Section 10(4G) of the Income Tax Act, 1961 in India provides an exemption for certain income earned by...
The introduction of Section 128A in the Central Goods and Services Tax (CGST) Act, 2017, by the Finance...
Section 10(19A) of the Income Tax Act, 1961, exempts the annual value of one palace in the occupation...
The Tax Deduction and Collection Account Number (TAN) is a 10-digit alphanumeric number issued by the...
1. Rationalization of provisions of TDS on sale of immovable property [Section 194-IA amended w.e.f....
1. Basic Concepts
AOP (Association of Persons): Group formed for common purpose (business/profession)
BOI...
Section 54GB of the Income Tax Act, 1961 in India provides for the exemption of long-term capital gains...
Section 67 of the Central Goods and Services Tax (CGST) Act, 2017 deals with the inspection, search,...
Section 142A of the Income Tax Act, 1961 empowers the Assessing Officer (AO) to refer matters of asset...
Here’s a detailed breakdown of incomes exempt under Section 11 of the Income Tax Act, 1961, for charitable...
Here’s a detailed explanation of Penalty under Section 271AAC of the Income Tax Act, 1961, which applies...
Purpose:
This section provides tax exemption to professional associations (like medical councils, bar...
Section 10(10C) of the Income Tax Act provides an exemption to employees who receive a certain amount...
Provident Fund (PF) is a social security scheme in India that provides financial assistance to employees...
The following Essential & Basic Rules have to be kept in mind while calculating Deductions under...
Understanding Section 71: Inter-Head Adjustment
Section 71 of the Income Tax Act, 1961 allows taxpayers...
Business trusts have gained popularity in recent years as a unique investment vehicle. They offer investors...
Here’s a detailed summary of the treatment of ULIPs (Unit-Linked Insurance Plans) as capital gains under...
1. Firm to be Assessed as Firm
Essential conditions prescribed under section 184 of the Income-tax Act,...
Under Section 251 of the Income Tax Act, 1961, the Commissioner of Income Tax (Appeals) [CIT(A)] has wide-ranging...