The Post Office has been a trusted place for depositing and transacting with money. This is especially...
1. Understanding of Section 80-IAC
The Income Tax Act, 1961 provides various deductions for taxpayers...
Indian Strategic Petroleum Reserves Limited (ISPRL) plays a crucial role in ensuring the energy security...
Yes, a tax audit under Section 44AB is compulsory even if the accounts are already audited under:
Other...
Under Section 248 of the Income Tax Act, 1961, a person who denies liability to deduct tax at source...
Section 10(10B) of the Income Tax Act, 1961 provides important tax relief for workmen who receive compensation...
Section 30 to 35 covers the following expenses Allowed as Deduction while computing Profits and Gains...
Section 245 of the Income Tax Act, 1961 allows the Income Tax Department to adjust (set off) a taxpayer’s refund...
Applicable to: *Farmer Producer Companies (FPCs) registered under Companies Act, 1956/2013*
This section...
Section 194LBB of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on income distributed...
(1) Unit Linked Insurance Policies (ULIPs) have gained popularity as a dual investment-cum-insurance...
1. Scope of Total Income / Incidence of Tax [Section 5]
Total income of an assessee cannot be computed...
Ministry of Finance
GOVERNMENT MAKES NEW TAX REGIME MORE ATTRACTIVE
STANDARD REDUCTION INCREASED FROM...
1. Overview
Section 115BA provides a concessional tax rate of 22% (plus surcharge & cess) for new...
Section 80RRB of the Income Tax Act, 1961, provides for a deduction in respect of royalty income received...
In the era of GST, the removal of check posts nationwide aimed to streamline the movement of goods within...
1. Legal Provision
Section 206C (7)mandates that sellers/collectors must pay interest if they:
Fail...
Death-cum-Retirement Gratuity is an important financial benefit provided to employees in India. It is...
Under Section 234C of the Income Tax Act, taxpayers are generally required to pay advance tax in instalments....
Any profits or gains arising from the transfer of a capital asset effected in the previous year, shall...