1. Business [Section 2(13)]
Business includes:
Any trade, commerce, or manufacturing activity;
Any adventure...
Section 194B of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on winnings from games...
Section 69D targets hundi transactions (an informal financial instrument) conducted without banking channels,...
Amendment of section 9.
110. In the Central Goods and Services Tax Act, 2017 (12 of 2017.) (hereinafter...
The Central Board of Indirect Taxes and Customs (CBIC) has released Notification No. 12/2024–Central...
Income tax laws can be complex and confusing, especially when it comes to understanding the various exemptions...
1. Legal Basis
Proviso to Section 206C(3): Requires sellers/collectorsto submit a statement of TCS collected...
1. Clarification in respect of Disallowance under Section 14A in absence of any Exempt Income during...
Capital assets are classified into different categories under the Income Tax Act, 1961, each with unique...
Section 194M of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on certain payments made...
Here’s a detailed breakdown of tax-free perquisites applicable to all employees under the Income Tax...
The Income Tax Law in India is a complex and ever-changing set of regulations that govern the taxation...
1. Basic Concept of HUF
An HUF (Hindu Undivided Family) is a separate legal entity for tax purposes,...
Interest incomes which are exempt under section 10(15) could be explained with the help of the following...
Retrenchment compensation is the amount paid to a workman (employee) at the time of termination of employment...
1. Legal Basis
Section 206C(6A)empowers tax authorities to impose penalties under Section 221 on sellers...
Section 230 of the Income Tax Act, 1961 mandates certain individuals to obtain a Tax Clearance Certificate...
Section 10(23AAB) of the Income Tax Act provides an exemption for income of a pension fund set up by:
Life...
Applicable to: Indian Resident Individuals (Inventors/Patent Holders)
This section provides tax relief...
1. Section 70: Inter-Source Adjustment – Set Off of Loss from one Source against Income from another...