1. Scope of Total Income / Incidence of Tax [Section 5]
Total income of an assessee cannot be computed...
Here’s a detailed analysis of Sections 269SU and 271DB of the Income Tax Act, 1961, which mandate businesses...
1. Individual and HUF Applicants who are Citizens of India and Located Within and Outside India at the...
Section 220(2) of the Income Tax Act, 1961, imposes interest @ 1% per month on unpaid tax demands if...
A. Changes in Basic Customs Duty (to be effective from 24.07.2024)
S. No.
Chapter, Heading, sub-...
Section 10(10B) of the Income Tax Act in India provides an exemption for compensation received by employees...
Section 64 of the Income Tax Act, 1961, mandates the clubbing of certain incomes earned by family members...
1. Core Rule (Strict Liability)
No PAN = Higher TDS/TCS:
TDS rate: 20%(instead of normal rate)
TCS...
1. Purpose of Section 115JAA
Allows companies to claim creditfor excess MAT paid (when MAT > normal...
Section 10(10D) provides tax exemption on amounts received from a life insurance policy, including:
Maturity...
Retrenchment compensation is the amount paid to a workman (employee) at the time of termination of employment...
Basic Rule
Under Section 64(1A), all income of a minor child (below 18 years) is automatically clubbed with...
Section 72A of the Income Tax Act, 1961, provides exceptional relief for companies undergoing restructuring...
Section 211 of the Income Tax Act, 1961, mandates the payment of advance tax in four instalments during...
The Goods and Services Tax framework has undergone significant transformations since its implementation...
Under Section 17(2) of the Income Tax Act, 1961, certain perquisites are taxable for all employees, regardless...
Section 10(6B) of the Income Tax Act, 1961, provides a tax exemption to non-residents (including foreign...
Under the Income Tax Act, 1961, individuals and Hindu Undivided Families (HUFs) can claim exemptions...
Section 10(23AA) of the Income Tax Act provides an exemption for income received by any person on behalf...
Explanation (iv) to Section 48 of the Income Tax Act, 1961, governs the indexation of improvement costs for...