Ministry of Finance
CAPITAL GAINS TAXATION SIMPLIFIED AND RATIONALISED
SHORT TERM GAINS TO ATTRACT A...
1. Legal Definition
Primary Responsibility: The person legally obligated to deduct TCS/TDS under the...
Here’s a detailed analysis of Section 275 of the Income Tax Act, 1961, which governs the time limits...
1. Dividend Declaration vs. Retained Earnings
Dividends:
Taxable in shareholders’ hands (10%...
HRA (House Rent Allowance) is a salary component that helps employees cover rental expenses. Under Section...
1. Provision by the employer of services of a Sweeper, a Gardener, a Watchman or Personal Attendant...
Government of India
Department of Revenue
Ministry of Finance
Central Board of Direct Taxes
New Delhi,...
Section 206CC of the Income Tax Act, 1961 mandates a higher Tax Collected at Source (TCS) rate if the...
This Trust Deed is made and executed on this [Date] day of [Month], [Year] at [Place] by:
SETTLOR:
Name:...
Under Section 10(17A) of the Income Tax Act, any award or reward received by an individual in recognition...
Section 10(2) of the Income Tax Act, 1961, provides a tax exemption for sums received by a member of...
Purpose:
This section provides a tax exemption on payments made by an Indian company to a foreign entity...
Applicable to: Individuals & HUFs (Non-Senior Citizens)
This section provides tax relief on interest...
Section 10(6) of the Income Tax Act, 1961 provides an exemption from income tax for certain income received...
In the context of the Goods and Services Tax (GST), the term “non-supplies” refers to transactions...
1. Legal Definition (Section 2(14))
A capital asset means:
Property of any kind held by an assessee...
In the realm of tax enforcement, the power of inspection, search, and seizure plays a pivotal role in...
1. Individual and HUF Applicants who are Citizens of India and Located Within and Outside India at the...
1. Legal Basis and Purpose
Section 203Amandates obtaining a 10-digit alphanumeric TAN for entities deducting/collecting...
1. [Section 56(2)]: List of Incomes included under ‘Income from Other Sources’
There are many incomes...