Section 194K of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on income distributed...
1. Who is Liable?
Every taxpayer(individuals, HUFs, companies, firms, etc.) whose estimated tax liability for...
Section 10(23BBG) of the Income Tax Act provides a full tax exemption for the income of the Central Electricity...
Section 147 empowers the Assessing Officer (AO) to reassess or recompute income that has escaped taxation in...
1. Mandatory E-Filing Requirement
All tax deductorsmust electronically file quarterly TDS statements
Applies...
The Companies Act, 2013 outlines various penalties and offences that can be imposed on companies and...
1. Scope of Total Income / Incidence of Tax [Section 5]
Total income of an assessee cannot be computed...
Section 54EC of the Income Tax Act, 1961, provides tax exemption on long-term capital gains (LTCG) from...
Under the Income Tax Act, individuals and Hindu Undivided Families (HUFs) have the option to be taxed...
Section 10(10C) of the Income Tax Act provides an exemption to employees who receive a certain amount...
Form 10-IEA is a crucial document for taxpayers for AY 2024-2025 and onwards. It allows individuals and...
Section 115BAB of the Income Tax Act, 1961 provides a concessional tax rate of 15% (plus surcharge &...
Under Explanation 1(iii) to Section 115JB(2), companies can deduct the lower of:
Brought forward losses(as...
Introduction
The Goods and Services Tax (GST) registration process in India has seen a significant shift...
Section 13 of the Income Tax Act, 1961 specifies situations where the tax exemptions under Section 11...
Section 10(25A) of the Income Tax Act provides a complete tax exemption for any income of the Employees’...
Tax incentives to International Financial Services Centre
International Financial Services Centre (IFSC)...
Under Section 54G, the Exemption is available to all categories of assessees in respect of Capital Gain...
Section 10(2A) of the Income Tax Act, 1961 in India exempts a partner’s share in the total income...
Section 168 of the Finance Act, 2016 (Chapter VIII) governs the processing of statements furnished under...