An approved research association refers to an organization that is primarily engaged in scientific research....
Under the Explanation to section 288(2), an “accountant” means a chartered accountant within...
Explanation (iii) to Section 48 of the Income Tax Act, 1961, defines the indexed cost of acquisition for...
The taxpayer has to communicate the details of his taxable income/loss to the Income tax Department.
These...
Here’s a detailed analysis of the taxability of interest on compensation or enhanced compensation under...
Under the Income Tax Act, 1961, certain transactions involving capital assets are excluded from the definition...
1. Source of the funds or any other sum provided by the lender to the borrower and credited in hooks...
1. Legal Status of Default
Deductor becomes “Assessee in Default”for:
Failure to deduct...
1. Primary Responsibilities of Deductor
Tax Deduction at Source:
Must deduct correct % as per Income...
Every person shall quote his permanent account number in all documents pertaining to the transactions...
Here’s a structured overview of Collection of Tax at Lower Rate under Section 206C(9), (10), (11)...
Amendment of section 7.
151. In the Union Territory Goods and Services Tax Act, 2017 (14 of 2017.) (hereinafter...
Here we discuss all the Provisions towards Computation of Capital Gain in certain Special Cases and the...
Section 140A mandates taxpayers to self-assess their income, calculate tax liability, and pay any outstanding...
Section 22 of the Income Tax Act, 1961, defines when and how income from house property becomes taxable.
1....
Section 10(23BBD) of the Income Tax Act provides a tax exemption for the income of the ASOSAI-SECRETARIAT—that...
The following Essential & Basic Rules have to be kept in mind while calculating Deductions under...
Under Section 246A of the Income Tax Act, 1961, taxpayers can file an appeal before the Commissioner...
A. Basic Conditions for Section 11 (Income from Property Held for Charitable/Religious Purposes)
Registration...
Government of India
Department of Revenue
Ministry of Finance
Central Board of Direct Taxes
New Delhi,...