Navigating the complexities of Goods and Services Tax (GST) can be challenging for businesses, especially...
The deductions under Chapter VI-A (Sections 80A to 80U) are subject to certain overarching rules that...
Political parties play a crucial role in any democratic society. They serve as the voice of the people,...
Section 132B governs how assets seized under Section 132 or requisitioned under Section 132A are to be utilized,...
The tax treatment of interest, premium, or bonus on specified investments is governed by Section 10(15)...
Section 10(23FF) of the Income Tax Act provides a targeted capital gains exemption for non-residents...
1. Litigation management when in an appeal by revenue an identical question of law is pending before...
Section 10(23FCA) of the Income Tax Act provides a tax exemption for rental income earned by a Real Estate...
1. Primary Responsibilities of Deductor
Tax Deduction at Source:
Must deduct correct % as per Income...
Section 10(22B) of the Income Tax Act, 1961, exempts the income of a specified news agency from tax....
Objective: To discourage large cash transactions and promote digital payments.
1. Key Provisions of Section...
Section 80DD of the Income Tax Act in India provides a deduction for individuals or Hindu Undivided Families...
Section 10(19) of the Income Tax Act provides an exemption for the family pension received by the family...
1. Overview
Legal Provision: Allows TCS collectorsto file a correction statement to rectify errors in...
Section 147 of the Income Tax Act, 1961, deals with the reassessment of income if the Assessing Officer...
Section 167 of the Finance Act, 2016 (Chapter VIII) governs the furnishing of statements for the Equalisation...
Section 44AE of the Income Tax Act, 1961 provides a simplified presumptive taxation scheme for businesses...
1. Firm to be Assessed as Firm
Essential conditions prescribed under section 184 of the Income-tax Act,...
Under the Income Tax Act, individuals and Hindu Undivided Families (HUFs) have the option to be taxed...
1. Fundamental Principle
TDS Credit Mechanism: Any tax deducted at source (TDS) is treated as:
Payment...