1. What is equalization levy (EL)?
This is a tax leviable on consideration received or receivable by...
A Hindu Undivided Family (HUF) is a unique entity recognized by the Indian tax system. It is a family...
Section 10(4E) of the Income Tax Act, 1961 provides an exemption from tax on income arising from the...
Section 147 of the Income Tax Act, 1961, deals with the reassessment of income if the Assessing Officer...
Under Section 17(2) of the Income Tax Act, 1961, certain perquisites are taxable for all employees, regardless...
Notification No. 09/2025 [F. No. 370142/18/2024-TPL] Dated 21th January, 2025
MINISTRY OF FINANCE
(Department...
Section 234F of the Income Tax Act, 1961 imposes a late filing fee if an assessee fails to file their...
Section 234H of the Income Tax Act, 1961 imposes a fee for failure to intimate/link one’s Aadhaar...
Here’s a detailed explanation of the penalty for failure to furnish the Equalisation Levy (EL)...
Under Section 10(2) of the Income Tax Act, 1961, the sum received by a member from a Hindu Undivided...
The Post Office has been a trusted place for depositing and transacting with money. This is especially...
1. Investment in Sukanya Samriddhi Yojana for Tax Saving for AY 2022-23 & 2023-24
Sukanya Samriddhi...
1. Mandatory E-Filing Requirement
All tax deductorsmust electronically file quarterly TDS statements
Applies...
Section 219 of the Income Tax Act, 1961 governs how advance tax payments are credited against a taxpayer’s...
Section 196C of the Income Tax Act, 1961 mandates Tax Deducted at Source (TDS) on income paid to non-residents (including...
Section 80JJAA of the Indian Income Tax Act, 1961 provides a valuable deduction for employers who create...
Section 10(2) of the Income Tax Act, 1961, provides a tax exemption for sums received by a member of...
The Central Board of Indirect Taxes and Customs (CBIC) has released Notification No. 12/2024–Central...
Section 234A(3) of the Income Tax Act, 1961, deals with interest payable when an assessee fails to file...
Chargeability/Scope/Meaning of Income under the head “Profits and Gains of Business and Profession” under...