An Electoral Trust is a unique entity that plays a crucial role in the political funding of political...
Section 196D of the Income Tax Act, 1961 governs the Tax Deducted at Source (TDS) on income earned by Foreign...
1. Overview
Legal Provision: Allows TCS collectorsto file a correction statement to rectify errors in...
Applicable to: All Individual & HUF Taxpayers
This section caps the total deductions available under...
Section 10(23FE) of the Income Tax Act provides an exemption in respect of certain income of wholly owned...
Section 54GB of the Income Tax Act, 1961 in India provides for the exemption of long-term capital gains...
1. [Section 56(2)]: List of Incomes included under ‘Income from Other Sources’
There are many incomes...
Here’s a detailed breakdown of fully taxable allowances for the computation of salary income in India,...
The Companies Act, 2013 outlines various penalties and offences that can be imposed on companies and...
Under the Income Tax Rules/ Act, certain taxpayers are required to get their accounts audited and submit...
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
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New...
Introduction
The Goods and Services Tax (GST) is a comprehensive, multi-stage, destination-based tax...
The article you’re viewing discusses significant changes to the regulations governing Charitable Trusts...
Chapter XIV-B (Sections 158BA, 158BB, 158BE):
Replaces “total income” assessment with “undisclosed...
Applicable to: *Resident Individuals with 40%+ Disability*
This section provides fixed tax deductions to...
Section 164(2) of the Income Tax Act, 1961, deals with the taxation of discretionary trusts, including charitable...
Leave salary, or leave encashment, refers to the payment an employee receives for unused leave days....
Under Section 10(17A) of the Income Tax Act, any award or reward received by an individual in recognition...
Here’s a structured breakdown of the types, definitions, and residential status of companies under the Income...
Section 74A of the Income Tax Act, 1961, provides specific rules for the treatment of losses incurred...