Section 115BAA of the Income Tax Act, 1961 provides a concessional tax rate of 22% (plus surcharge &...
Introduction-
The CBIC vide Notification No. 04/2024 – Central Tax dated January 05, 2024, notified the...
Provident Fund Scheme is a welfare scheme for the benefit of the employees. Under this scheme, certain...
1. Legal Definitions
A. “Seller” (Section 206C(1))
Who is a Seller?
Any person/entity(individual,...
1. Perquisites [(Section 17(2)]-Definition
Section 17(2) of the Income-tax Act, 1961 gives an inclusive...
Notification No. 08/2025 [F. No. 370153/01/2025-TPL] Dated 20th January, 2025
MINISTRY OF FINANCE
(Department...
Ministry of Finance
Posted On: 22 JAN 2025 8:09PM by PIB Delh
CBDT notifies amendments in Income-tax...
To avail tax exemption under Section 11, a charitable or religious trust must satisfy the following mandatory...
Purpose:
This section provides full tax exemption on certain allowances received by:
Members of Parliament...
Retirement planning is crucial for employees to ensure financial security post-retirement while minimizing...
The deductions under Chapter VI-A (Sections 80A to 80U) are subject to certain overarching rules that...
The Tax Deduction and Collection Account Number (TAN) is a 10-digit alphanumeric number issued by the...
Here’s a structured table summarizing the key changes to Tax Collected at Source (TCS) effective from...
The Central Board of Indirect Taxes and Customs (CBIC) has released Notification No. 12/2024–Central...
The Income Tax Appellate Tribunal (ITAT) derives its adjudicatory powers from Section 254 of the Income...
Section 234B(1) of the Income Tax Act, 1961, imposes interest if an assessee either:
Fails to pay advance...
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
New Delhi,...
Under the Income Tax Act, 1961, rent-free or concessional accommodation provided by an employer is a taxable...
Ministry of Finance
GOVERNMENT MAKES NEW TAX REGIME MORE ATTRACTIVE
STANDARD REDUCTION INCREASED FROM...
1. Overview of Section 58
Section 58 specifies expenses that cannot be deducted while computing taxable...