Section 10(23BBD) of the Income Tax Act provides a tax exemption for the income of the ASOSAI-SECRETARIAT—that...
1. Perquisites [(Section 17(2)]- Income under the head Salaries
Section 17(2) of the Income-tax Act,...
Section 132 of the Income Tax Act empowers tax authorities to conduct searches and seize undisclosed...
Understanding Section 10(8)
Section 10(8) provides tax exemption for income received by:
Foreign technicians/experts
Employees...
Introduction
The people of India have reposed their faith in the government led by the Hon’ble Prime...
Section 195A of the Income Tax Act, 1961, governs scenarios where the payer agrees to bear the tax liability on...
Section 10(4D) of the Income Tax Act, 1961 in India provides an exemption for certain income earned by...
Key Rule:
Section 61 (taxation of revocable transfers) does NOT applyif the transfer is irrevocable...
INTRODUCTION-
The Goods and Services Tax (GST) is a comprehensive and multi-stage tax system that aims...
1. Purpose of Rule 6G
Prescribes the forms and mannerfor submitting tax audit reports
Mandates the format...
Here’s a detailed breakdown of the tax rates on long-term capital gains (LTCG) for assets not covered...
In the intricate landscape of Goods and Services Tax (GST), the concepts of zero-rated supply and export...
1. Legal Provision
Section 206C(6)imposes penalties on sellers/collectors who fail to collect Tax Collected...
Sovereign Gold Bonds (SGBs) are government securities denominated in grams of gold. They are substitutes...
1. Making changes or Correction in PAN data
Suppose an applicant needs to change or correct a data on...
The provisions relating to Direct Taxes for the Financial Year 2025-26 in India include several key changes...
1. Definition of “Person” under Section 2(31)
Section 2(31) of the Income Tax Act, 1961...
Section 54B of the Income Tax Act, 1961, provides a tax exemption on capital gains arising from the transfer...
Notification No. 05/2025 [F. No. 300196/37/2019-ITA-I] Dated 3nd January, 2025
MINISTRY OF FINANCE
(Department...
The Inverted Duty Structure (IDS) under the Goods and Services Tax (GST) regime is a situation where...