GST Audit under Section 65 of the CGST Act, 2017 is conducted by the tax authorities to verify the correctness...
The Indian Income Tax Act, 1961, governs the taxation of various sources of income in India. One such...
The authority vested in officers for search and seizure is a crucial aspect of upholding tax laws and...
Section 281B of the Income Tax Act, 1961, deals with the Provisional Attachment of Property to Protect...
Section 194LB of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on interest payments...
CBDT issues clarification in respect of Income-tax clearance certificate (ITCC)-Press Release by PIB
Ministry of Finance
CBDT issues clarification in respect of Income-tax clearance certificate (ITCC)
It...
Section 65 clarifies the tax liability of the transferee (recipient of income/assets) when income is...
1. Overview
Under Section 210(1) of the Income Tax Act, 1961, taxpayers liable for advance tax must voluntarily...
Section 115JB(4) of the Income Tax Act, 1961, mandates that companies liable for Minimum Alternate Tax...
1. Basic Condition
A taxpayer is liable to pay advance tax if:
Estimated tax liability(after deducting...
Section 10(1) of the Income Tax Act, 1961, provides a full exemption for agricultural income, meaning...
Section 264B of the Income Tax Act, 1961, pertains to the faceless effect of orders passed under the...
Section 68 is a critical anti-evasion provision that targets unexplained sums credited in a taxpayer’s...
1. General Rule for All Non-Company Entities [Section 6(2)]
The residential status of Firms, AOPs, BOIs,...
Here’s a detailed analysis of Immunity under Section 270AA of the Income Tax Act, 1961, which protects...
Section 65: Audit By Tax Authorities:
Understanding the intricate process of GST audits, as outlined...
The provisions, which are being discussed under various sub-sections of section 40A have overriding effect ...
Section 22 of the Income Tax Act, 1961, defines when and how income from house property becomes taxable.
1....
1. Legal Basis for TDS Certificates
Section 203of the Income Tax Act, 1961 mandates that every deductor must...
Section 10(23EC) of the Income Tax Act provides a tax exemption for income received by an Investor Protection...