Section 194LBC of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on income distributed...
Section 10(23FB) of the Income Tax Act provides a tax exemption for income earned by a Venture Capital...
Section 244A governs the payment of interest on income tax refunds to assessees. Below is a detailed...
Section 145 of the Income Tax Act, 1961 governs the method of accounting for computing taxable income...
Section 195A of the Income Tax Act, 1961, governs scenarios where the payer agrees to bear the tax liability on...
Section 18 of the Central Goods and Services Tax (CGST) Act, 2017, deals with the availability and eligibility...
Enrolment Duration
Expenditure Duration
Beneficiaries
Central Outlay
Years
(lakhs)
(Rs....
Here’s a detailed explanation of Section 173 (Penalty Not to Be Imposed in Certain Cases) under the Equalisation...
Notification No. 02/2025 [F. No. 275/110/2024-IT(B)] Dated 2nd January, 2025
MINISTRY OF FINANCE
(Department...
1. Core Rule (Strict Liability)
No PAN = Higher TDS/TCS:
TDS rate: 20%(instead of normal rate)
TCS...
INTRODUCTION-
The Goods and Services Tax (GST) is a comprehensive and multi-stage tax system that aims...
Section 194-I of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on rent payments exceeding...
1. Enabling the Commissioner (Appeals) to levy Penalty under Section 271AAB. 271AAC and 271AAD of the...
Section 196 of the Income Tax Act, 1961 provides an exemption from Tax Deducted at Source (TDS) for payments...
Applicable to: Individuals & HUFs
Section 80C is one of the most popular tax-saving sections, allowing...
Section 44ADA of the Income Tax Act, 1961 provides a simplified presumptive taxation scheme for eligible...
An Association of Persons (AOP), whether incorporated or not, is treated as a `person` under section...
Section 194LD of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on interest income paid...
Applicability:
Section 234A(1) of the Income Tax Act, 1961, levies interest if an assessee fails to file their...
1. Firm to be Assessed as Firm
Essential conditions prescribed under section 184 of the Income-tax Act,...