Applicable to: *Farmer Producer Companies (FPCs) registered under Companies Act, 1956/2013*
This section...
Provident Fund Scheme is a welfare scheme for the benefit of the employees. Under this scheme, certain...
Chapter VI-A of the Income Tax Act, 1961, provides various deductions from Gross Total Income (GTI) to...
Understanding the intricacies of advance tax and self-assessment tax is crucial for both compliance and...
What is PAN?
Permanent Account Number (PAN) is a unique ten-digit alphanumeric identifier issued by...
A. Purpose of CRS and FATCA
In this globalized economy, tax transparency and compliance has become paramount...
Section 140 of the Income Tax Act, 1961 specifies who must verify the return of income and the authorized...
The transformation of a Partnership Firm or a Proprietorship Firm into a Private Limited Company is a...
Section 194-IB of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on rent payments exceeding ₹50,000/month by individuals...
Section 38 of the Income Tax Act, 1961 governs deductions for depreciation and other expenses related...
To promote digital transactions, the Income Tax Act mandates certain businesses to compulsorily accept...
Under Section 246A of the Income Tax Act, 1961, taxpayers can file an appeal before the Commissioner...
1. Legal Basis
Section 206C(6A)empowers tax authorities to impose penalties under Section 221 on sellers...
Section 142A of the Income Tax Act, 1961 empowers the Assessing Officer (AO) to refer matters of asset...
Section 143(3) deals with the scrutiny assessment process in Indian income tax law. This assessment is...
Here we describe all the Provisions towards Calculation of Tax on Short-term Capital Gains under Section...
TDS on Salary (Section 192) and TDS on Provident Fund (Section 192A) are provisions under the Income...
1. Who is Liable?
Every taxpayer(individuals, HUFs, companies, firms, etc.) whose estimated tax liability for...
Interest income is one of the common sources of income for individuals and businesses alike. When it...
Accommodation provided to the employee may be—
(i) unfurnished
(ii) furnished
Further, such...