We will continue our efforts to simplify taxes, improve tax payer services, provide tax certainty and...
Term life insurance, also known as pure life insurance, is a type of life insurance that guarantees payment...
Section 196B of the Income Tax Act, 1961 governs the Tax Deducted at Source (TDS) on income paid to non-residents or foreign...
Section 10(32) of the Income Tax Act provides a modest exemption when a minor child’s income is clubbed...
1. Legal Basis
Section 206C(3): Mandates deposit of Tax Collected at Source (TCS)to the Central Government...
Here’s a detailed explanation of tax relief under Section 89(1) read with Rule 21A of the Income Tax...
Notification No. 13/2025 [F. No.370142/9/2024-TPL] Dated 07th February, 2025
MINISTRY OF FINANCE
(Department...
Under the Goods and Services Tax (GST) regime in India, certain banking-related services are either exempt...
Navigating the complexities of Goods and Services Tax (GST) can be challenging for businesses, especially...
Under the Income Tax Act, individuals and Hindu Undivided Families (HUFs) have the option to be taxed...
Section 196A of the Income Tax Act, 1961 governs the Tax Deducted at Source (TDS) on income paid to non-residents (including foreign...
The Income Tax Act, 1961 provides detailed provisions under Sections 70 to 80 for setting off and carrying...
Purpose:
This section provides a full tax exemption on the income of local authorities, such as municipalities,...
1. Legal Provision
Section 206C (7)mandates that sellers/collectors must pay interest if they:
Fail...
Section 196D of the Income Tax Act, 1961 governs the Tax Deducted at Source (TDS) on income earned by Foreign...
Here’s a detailed explanation of the taxability of dividends under Section 56(2)(i) as “Income...
Understanding of Section 56(2)(i)
In India, the taxation of dividends is governed by the provisions of...
The Government of India’s Department of Posts, Ministry of Communications, offers fixed deposit accounts...
The taxation of dividends in India has undergone significant changes over the years. This article aims...
Section 292B of the Income Tax Act, 1961, protects income tax proceedings from being invalidated due...