Section 264A of the Income Tax Act, 1961, introduced by the Taxation Laws (Relaxation and Amendment)...
Overview
Section 157A of the Income Tax Act, 1961, was introduced to empower the Central Government to...
1. Core Rule (Strict Liability)
No PAN = Higher TDS/TCS:
TDS rate: 20%(instead of normal rate)
TCS...
Section 68 is a critical anti-evasion provision that targets unexplained sums credited in a taxpayer’s...
Here’s a detailed explanation of Section 173 (Penalty Not to Be Imposed in Certain Cases) under the Equalisation...
Employee Stock Option Plans (ESOPs) are popular mechanisms through which companies attract, retain, and...
Section 10(23FE) of the Income Tax Act provides an exemption in respect of certain income of wholly owned...
Section 54F of the Income Tax Act, 1961, provides tax exemption on long-term capital gains (LTCG) from...
Section 10(25) of the Income Tax Act provides tax exemptions for income earned by various retirement-related...
Section 37(1) of the Income Tax Act, 1961 is a crucial provision that allows businesses and professionals...
What is PAN?
Permanent Account Number (PAN) is a unique ten-digit alphanumeric identifier issued by...
Section 55(1)(b) of the Income Tax Act, 1961, defines the cost of improvement for capital assets, which...
1. Legal Provision
Section 206C(4)ensures that the buyer (collectee) receives credit for the TCS amount...
Section 45(3) of the Indian Income Tax Act, 1961, deals with the taxation of capital gains arising from...
Section 54G of the Income Tax Act, 1961, provides tax exemption on capital gains arising from the transfer...
A. Changes in Basic Customs Duty (to be effective from 24.07.2024)
S. No.
Chapter, Heading, sub-...
Section 54H of the Income Tax Act, 1961 in India provided for an extension of time for acquiring a new...
Section 144 of the Income Tax Act, 1961, empowers the Assessing Officer (AO) to determine a taxpayer’s...
Section 10(26) of the Income Tax Act provides a tax exemption for members of Scheduled Tribes residing...
Applicable to: All taxpayers (Individuals, HUFs, Companies, etc.)
This section provides tax benefits...