Provisions and Amendments Relating to Direct Tax Vivad se Vishwas Scheme, 2024
The Income-tax Act, 1961...
Section 9 of the Income Tax Act, 1961, is a critical provision that determines when income is considered...
Section 194D of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payments made as insurance...
1. Legal Requirement
Section 206Amandates specified entities to file statements for payments made to...
Section 115JB(2) mandates that the Statement of Profit & Loss (P&L) for MAT computation must...
The Budget 2025 has introduced enhanced threshold limits for TDS, ensuring that smaller transactions...
When it comes to retirement planning, superannuation funds play a crucial role in providing financial...
(1) Conditions to be satisfied for applicability of Section 112A [Section 112A(1)]:
Notwithstanding...
1. Primary Responsibilities of Deductor
Tax Deduction at Source:
Must deduct correct % as per Income...
Here’s a comprehensive analysis of Section 56(2)(viib) of the Income Tax Act, 1961, which taxes share...
Section 43CB of the Income Tax Act, 1961 standardizes the computation of income from construction contracts and service...
1. Source of the funds or any other sum provided by the lender to the borrower and credited in hooks...
Section 28 of the Income Tax Act, 1961, is a key provision that defines the types of income chargeable...
Agricultural income holds a special position in India’s taxation system, with specific exemptions...
1. When Does This Apply?
When the taxpayer calculates their own advance tax liability(not based on the...
Under the Employees’ Provident Fund (EPF) scheme, employers are required to contribute to a Recognised...
Section 56(1) serves as the residual head of income, capturing all taxable income that does not fall...
1. Legal Provision
Section 206C(6)imposes penalties on sellers/collectors who fail to collect Tax Collected...
Notification No. 09/2025 [F. No. 370142/18/2024-TPL] Dated 21th January, 2025
MINISTRY OF FINANCE
(Department...
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
******
New...