1. What is PAN?
PAN stands for Permanent Account Number. PAN is a ten-digit unique alphanumeric number...
In the intricate landscape of Goods and Services Tax (GST), the concepts of zero-rated supply and export...
The introduction of Section 128A in the Central Goods and Services Tax (CGST) Act, 2017, by the Finance...
1. Set-Off Rules for Current Year Losses
Intra-head adjustment (Section 70):
Business losses can be...
This article delves into the legal framework surrounding cash seizure, the grounds on which authorities...
Section 80JJAA of the Indian Income Tax Act, 1961 provides a valuable deduction for employers who create...
Section 56(2)(viib) of the Income Tax Act, 1961, is a provision that pertains to closely-held companies...
Section 234H of the Income Tax Act, 1961 imposes a fee for failure to intimate/link one’s Aadhaar...
1. Basic Condition
A taxpayer is liable to pay advance tax if:
Estimated tax liability(after deducting...
Section 194LBC of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on income distributed...
1. Scope of Total Income / Incidence of Tax [Section 5]
Total income of an assessee cannot be computed...
Section 281 empowers the Income Tax Department to declare certain asset transfers as void if made during...
Section 10(13A) of the Income Tax Act, 1961 provides an exemption for the House Rent Allowance (HRA) received...
Note:
(a) “Basic Excise Duty” means the excise duty set forth in the Fourth Schedule to the...
1. Agricultural Income [Section 10(1)]
As per Section 10(1) of the Income Tax Act, agricultural income...
Section 197A of the Income Tax Act, 1961 provides specific situations where no Tax Deducted at Source...
Here we discuss all the Provisions towards Computation of Capital Gain in certain Special Cases and the...
Order No. [F. No. 225/235/2024/ITA-II] Dated 31st January, 2025
MINISTRY OF FINANCE
(Department of Revenue)
Order...
Applicable to: Individual taxpayers
This section provides a deduction for interest paid on loans taken...
Section 10(4E) of the Income Tax Act, 1961 provides an exemption from tax on income arising from the...