To establish a legally valid charitable or religious trust, follow these key steps under Indian law:
1....
Section 10(10A) of the Income Tax Act in India relates to the tax treatment of payments made in commutation...
The Finance (No. 2) Bill, 2024, has introduced several significant amendments to the capital gains tax...
1. Legal Provision
Section 206C (7)mandates that sellers/collectors must pay interest if they:
Fail...
Here’s a detailed analysis of Immunity under Section 270AA of the Income Tax Act, 1961, which protects...
Here’s a detailed breakdown of Section 270A of the Income Tax Act, 1961, which imposes penalties for under-reporting and misreporting of...
To simplify tax compliance and enhance the ease of doing business, the Finance Act has proposed significant...
Applicable to: *Farmer Producer Companies (FPCs) registered under Companies Act, 1956/2013*
This section...
Section 10(10B) of the Income Tax Act in India provides an exemption for compensation received by employees...
The Income Tax Act, 1961, allows for the waiver or reduction of interest in certain cases, primarily...
Indian Strategic Petroleum Reserves Limited (ISPRL) plays a crucial role in ensuring the energy security...
Section 194LB of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on interest payments...
Under Section 10(18) of the Income Tax Act, certain awardees and their family members are eligible for...
Section 10(23EC) of the Income Tax Act provides a tax exemption for income received by an Investor Protection...
The taxation of dividends in India has undergone significant changes over the years. This article aims...
Section 191 provides for situations where tax is not deducted at source (TDS) as required under other...
The following Essential & Basic Rules have to be kept in mind while calculating Deductions under...
Applicable to: Individuals & HUFs
This section provides tax benefits for health-related expenditures,...
Under the Income Tax Act, 1961, if a taxpayer or the Income Tax Department is dissatisfied with an order...
Provisions and Amendments Relating to “Goods and Service Tax (GST)” under Finance (No.2) Bill, 2024.
Note:
(a) CGST Act means Central Goods and Services Tax Act, 2017
(b) IGST Act means...