Section 10(4F) of the Income Tax Act, 1961 in India provides an exemption for income earned by a non-resident...
A Post Office Savings Account is one of the most popular and accessible savings accounts in India.
The...
The Goods and Services Tax (GST) Act, 2017, has laid down comprehensive guidelines for recovery proceedings...
CBDT issues clarification in respect of Income-tax clearance certificate (ITCC)-Press Release by PIB
Ministry of Finance
CBDT issues clarification in respect of Income-tax clearance certificate (ITCC)
It...
Section 10(4D) of the Income Tax Act, 1961 in India provides an exemption for certain income earned by...
Notification No. 04/2025 [F. No. 196/1/2023-ITA-I] Dated 3nd January, 2025
MINISTRY OF FINANCE
(Department...
1. Overview
Introduced: Finance Act 2021 (effective from 1st July 2021).
Purpose: Imposes higher Tax...
Section 10(25A) of the Income Tax Act provides a complete tax exemption for any income of the Employees’...
Under Section 248 of the Income Tax Act, 1961, a person who denies liability to deduct tax at source...
Section 56(2)(viib) of the Income Tax Act, 1961, is a provision that pertains to closely-held companies...
(1) When an asset is acquired by the government through the process of compulsory acquisition,...
Section 244A governs the payment of interest on income tax refunds to assessees. Below is a detailed...
Provisions and Amendments Relating to “Goods and Service Tax (GST)” under Finance (No.2) Bill, 2024.
Note:
(a) CGST Act means Central Goods and Services Tax Act, 2017
(b) IGST Act means...
In the realm of Goods and Services Tax (GST), the efficient utilization and handling of Input tax credit (ITC)...
As per Section 54D, the Capital Gain arising from the transfer, by way of compulsory acquisition under...
Section 196 of the Income Tax Act, 1961 provides an exemption from Tax Deducted at Source (TDS) for payments...
Section 17(3) defines “profits in lieu of salary” as payments received by an employee in...
As per Section 44AA and Rule 6F, persons carrying on Business and Professions specified below are mandatorily...
1. Introduction to Loss Carry Forward
When losses cannot be fully adjusted in the same financial year,...