Section 194BB of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on winnings from horse...
Section 26 of the Income Tax Act governs the taxation of income from properties jointly owned by two...
Section 234B(1) of the Income Tax Act, 1961, imposes interest if an assessee either:
Fails to pay advance...
Here’s a detailed analysis of Section 271J of the Income Tax Act, 1961, which imposes penalties...
Section 206C of the Act provides for tax collection at source (TCS) on business of trading in alcoholic...
Order No. [F. No. 225/17/2025-ITA-II] Dated 28th January, 2025
MINISTRY OF FINANCE
(Department of Revenue)
To
All...
1. Scope of Total Income / Incidence of Tax [Section 5]
Total income of an assessee cannot be computed...
Unit Linked Insurance Plans (ULIPs) are a unique financial product that offers the dual benefits of life...
Under Section 139C of the Income Tax Act, 1961, the Central Board of Direct Taxes (CBDT) has the authority...
Section 10(23BBF) of the Income Tax Act provides a phased tax exemption for the North-Eastern Development...
Amendment of section 5.
147. In the Integrated Goods and Services Tax Act, 2017 (13 of 2017.) (hereinafter...
Amendment of section 9.
110. In the Central Goods and Services Tax Act, 2017 (12 of 2017.) (hereinafter...
1. Applicability
Section 56(2)(ib) covers casual and non-recurring income from:
Lotteries(including...
Section 190 of the Income Tax Act, 1961, governs the provisions related to Tax Deduction at Source (TDS),...
Notification No. 03/2025 [F. No. 275/109/2024-IT(B)] Dated 2nd January, 2025
MINISTRY OF FINANCE
(Department...
In order to monitor high-value transactions conducted by taxpayers, a significant regulatory measure...
In India, the Income Tax Act provides various exemptions to taxpayers to encourage investments and promote...
Here’s a detailed breakdown of fully taxable allowances for the computation of salary income in India,...
Section 65: Audit By Tax Authorities:
Understanding the intricate process of GST audits, as outlined...
1. Understanding of Section 80-IAC
The Income Tax Act, 1961 provides various deductions for taxpayers...