Confused About Blocked ITC Credits under GST Section 17(5) ? Learn The 6 Major Categories, Real Controversies,...
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
New Delhi,...
Section 10(6B) of the Income Tax Act, 1961, provides a tax exemption to non-residents (including foreign...
Understanding Section 10(10A)
Section 10(10A) provides tax exemption for commuted pension amounts received...
Section 80G of the Income Tax Act, 1961 provides provisions for claiming deductions on donations made...
The Income Tax Act provides multiple exemptions to reduce or eliminate capital gains tax liability if...
1. Scope of Section 56(2)(id)
This provision covers interest income from securities when:
Not chargeable...
A format to compute the capital gain is given below:
Computation of Short-term Capital Gains
Full...
Section 10(10C) of the Income Tax Act provides an exemption to employees who receive a certain amount...
Section 69 of the CGST Act, 2017 grants tax authorities the power to arrest individuals suspected of...
Section 194DA of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payouts from life...
1. Income Tax Law
An understanding of the Income-tax law requires a study of the following:
(I) ...
The provisions, which are being discussed under various sub-sections of section 40A have overriding effect ...
According to Section 10(2A), any share of profit received by a partner from a firm is exempt from tax....
Section 194LC of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on interest payments...
Section 154 of the Income Tax Act, 1961, allows the Assessing Officer (AO), Commissioner (Appeals), or...
Under the Income Tax Act, 1961, the Principal Chief Commissioner (PCCIT), Chief Commissioner (CCIT),...
1. Definition of “Person” under Section 2(31)
Section 2(31) of the Income Tax Act, 1961...
Section 234A(4) of the Income Tax Act, 1961, deals with the adjustment of interest when there is a subsequent revision,...
Under the Income Tax Act, 1961, certain transactions or scenarios are treated as “deemed profits” and...