1. Fundamental Principle
TDS Credit Mechanism: Any tax deducted at source (TDS) is treated as:
Payment...
Ministry of Finance
GOVERNMENT MAKES NEW TAX REGIME MORE ATTRACTIVE
STANDARD REDUCTION INCREASED FROM...
1. Primary Responsibilities of Deductor
Tax Deduction at Source:
Must deduct correct % as per Income...
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
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New...
Under Section 249 of the Income Tax Act, 1961, along with Rules 45 and 46 of the Income Tax Rules, the...
The Income Tax Act, 1961, mandates taxpayers to submit certain documents, statements, and disclosures along...
The Public Provident Fund (PPF) scheme is a very popular long-term savings scheme in India because of...
Section 194LD of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on interest income paid...
Section 242 of the Income Tax Act, 1961, clarifies that a refund claim cannot be used to challenge the...
Section 13 of the Income Tax Act, 1961 specifies situations where the tax exemptions under Section 11...
Enrolment Duration
Expenditure Duration
Beneficiaries
Central Outlay
Years
(lakhs)
(Rs....
Chargeability/Scope/Meaning of Income under the head “Profits and Gains of Business and Profession” under...
Section 194D of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payments made as insurance...
Section 10(23FE) of the Income Tax Act provides a tax exemption for certain types of income earned by...
1. Overview
Legal Provision: Allows TCS collectorsto file a correction statement to rectify errors in...
Section 10(4) of the Income Tax Act, 1961 in India provides an exemption for certain types of interest...
Section 10(23FF) of the Income Tax Act provides a targeted capital gains exemption for non-residents...
Section 10(10C) of the Income Tax Act provides tax exemption on compensation received by an employee...
Section 194J of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payments made for professional...
Section 132A empowers the Income Tax Department to requisition (take custody of) books of account, documents,...