When a disaster strikes, it can cause immense damage to life and property. In such difficult times, the...
It was introduced under chapter VIII of Finance Act, 2016. This chapter came in to force from 1st June,...
Under the Income Tax Act, 1961, certain transactions or scenarios are treated as “deemed profits” and...
Applicable to: Businesses engaged in collecting/processing biodegradable waste
This section provides...
(1) When a company goes into liquidation, it is important to understand the implications it can...
Section 16 allows three key deductions from gross salary income before computing taxable salary. These...
Section 230 of the Income Tax Act, 1961 mandates certain individuals to obtain a Tax Clearance Certificate...
Section 234D of the Income Tax Act, 1961, mandates that taxpayers repay excess refunds received during...
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
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New...
Section 10(23FB) of the Income Tax Act provides a tax exemption for income earned by a Venture Capital...
Section 17(3) defines “profits in lieu of salary” as payments received by an employee in...
Long-term capital gain arising on the transfer of any capital asset being land or building or both is...
(A) Valuation of Perquisites: Sweeper, Gardener, Watchman, or Personal Attendant [Rule 3(3)]
Under Rule...
Section 45(1) of the Income Tax Act, 1961 is the foundational provision that defines how and when capital...
Section 10(23EE) of the Income Tax Act provides a tax exemption for specified income of a Core Settlement...
The Equalisation Levy in India, governed by Chapter VIII of the Finance Act, 2016, imposes a tax on certain...
Revocation of Cancellation of Registration under GST is a process that allows a taxpayer to restore their...
1. Making changes or Correction in PAN data
Suppose an applicant needs to change or correct a data on...
Section 55(2) of the Income Tax Act, 1961, provides crucial rules for determining the cost of acquisition of...
The provisions relating to Direct Taxes for the Financial Year 2025-26 in India include several key changes...