The Budget Speech for 2025-26 by Finance Minister Nirmala Sitharaman, presented in Parliament, outlines...
Section 196B of the Income Tax Act, 1961 governs the Tax Deducted at Source (TDS) on income paid to non-residents or foreign...
Under the Income Tax Rules/ Act, certain taxpayers are required to get their accounts audited and submit...
Applicable to: Developers of Affordable Housing Projects
This section provides a 100% tax exemption on...
Section 285BA of the Income Tax Act, 1961, mandates specified entities to report high-value financial...
1. Introduction of Block Assessment Provisions in cases of Search under Section 132 and Requisition under...
Section 54 of the Income Tax Act, 1961 provides tax exemption on long-term capital gains (LTCG) arising...
1. Key Provision
Section 37(2B)of the Income Tax Act, 1961, disallows any deduction for expenses incurred...
Here’s a detailed explanation of Penalty under Section 271H of the Income Tax Act, 1961, which applies...
Section 115JB(2) mandates that the Statement of Profit & Loss (P&L) for MAT computation must...
Section 73 of the Income Tax Act, 1961, governs the treatment of speculation business losses, imposing...
Section 10(10CC) of the Income Tax Act, 1961, deals with the tax treatment of non-monetary perquisites...
Revocation of Cancellation of Registration under GST is a process that allows a taxpayer to restore their...
Section 196A of the Income Tax Act, 1961 governs the Tax Deducted at Source (TDS) on income paid to non-residents (including foreign...
Here’s a detailed analysis of Immunity under Section 270AA of the Income Tax Act, 1961, which protects...
Section 191 provides for situations where tax is not deducted at source (TDS) as required under other...
Section 168 of the Finance Act, 2016 (Chapter VIII) governs the processing of statements furnished under...
In the realm of tax enforcement, the power of inspection, search, and seizure plays a pivotal role in...
1. Set-Off Rules for Current Year Losses
Intra-head adjustment (Section 70):
Business losses can be...
Section 10(23AAA) of the Income Tax Act provides an exemption for income received by any person on behalf...