A scrutiny (regular) assessment under Section 143(3) is a comprehensive evaluation of a taxpayer’s return...
Introduction:
Section 67 of the Central Goods and Services Tax (CGST) Act, 2017, deals with the power...
Here’s a detailed summary of the treatment of ULIPs (Unit-Linked Insurance Plans) as capital gains under...
Section 268 of the Income Tax Act, 1961 provides a relief mechanism for taxpayers and the tax department...
Section 9A (Investment Fund Participation Rules):
Indirect investments by Indian residents in offshore...
Applicable to: Enterprises engaged in infrastructure, power, telecom, SEZs, etc.
This section provides 100%...
Section 73A of the Income Tax Act, 1961, governs the treatment of losses incurred in specified businesses under Section...
Purpose:
This section provides a full tax exemption on income earned by scientific research associations that...
Income chargeable under the head “Income from house property” shall be computed after making...
Kisan Vikas Patra is a certificate scheme from the Indian post office. It doubles a one-time investment...
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
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New...
Section 10(22B) of the Income Tax Act, 1961, exempts the income of a specified news agency from tax....
1. Basic Concept of HUF
An HUF (Hindu Undivided Family) is a separate legal entity for tax purposes,...
The Faceless Appeal Scheme, 2021, introduced via Notification No. 139/2021 dated 28th December 2021,...
Section 10(44) of the Income Tax Act, 1961 provides for exemption from income tax in India in respect...
Ministry of Finance
GOVERNMENT MAKES NEW TAX REGIME MORE ATTRACTIVE
STANDARD REDUCTION INCREASED FROM...
With the increasing concerns about climate change and the need to reduce pollution, there has been a...
Section 139B of the Income Tax Act, 1961, allows taxpayers to file their income tax returns through authorized...
Section 40A of the Income Tax Act, 1961 specifies certain expenses or payments that cannot be deducted while...
A format to compute the capital gain is given below:
Computation of Short-term Capital Gains
Full...