Here’s a structured table summarizing the key changes to Tax Collected at Source (TCS) effective from...
Section 194LA of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payments made as...
When non-residents (NRIs/Foreign Investors) transfer shares/debentures of Indian companies, special tax...
Under the Goods and Services Tax (GST) regime in India, healthcare services and hospital room rent are...
To establish a legally valid charitable or religious trust, follow these key steps under Indian law:
1....
1. General Rule for All Non-Company Entities [Section 6(2)]
The residential status of Firms, AOPs, BOIs,...
Introduction
The Goods and Services Tax (GST) registration process in India has seen a significant shift...
1. Statutory Framework
Section 5 defines the scope of total income based on the taxpayer’s residential...
Understanding of Section 54
When an individual sells a residential house property, they are liable to...
Enrolment Duration
Expenditure Duration
Beneficiaries
Central Outlay
Years
(lakhs)
(Rs....
Applicable to: All Individual & HUF Taxpayers
This section caps the total deductions available under...
Section 115BAA of the Income Tax Act, 1961 provides a concessional tax rate of 22% (plus surcharge &...
Section 25 of the Income Tax Act lays down a specific disallowance: certain types of interest payments...
(A) In the case of every Individual or Hindu Undivided Family (HUF)
(A1) If the individual...
Notification No. 04/2025 [F. No. 196/1/2023-ITA-I] Dated 3nd January, 2025
MINISTRY OF FINANCE
(Department...
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
New Delhi,...
Section 115JB mandates that companies calculate Minimum Alternate Tax (MAT) based on book profits (derived...
Section 55(1)(b) of the Income Tax Act, 1961, defines the cost of improvement for capital assets, which...
Any profits or gains arising from the transfer of a capital asset effected in the previous year, shall...
Section 10(23FF) of the Income Tax Act provides a targeted capital gains exemption for non-residents...