The Inverted Duty Structure (IDS) under the Goods and Services Tax (GST) regime is a situation where...
Under the Income Tax Act, 1961, and the Constitution of India, an appeal can be filed before the Supreme...
Section 18 of the Central Goods and Services Tax (CGST) Act, 2017, deals with the availability and eligibility...
1. Fundamental Principle
TDS Credit Mechanism: Any tax deducted at source (TDS) is treated as:
Payment...
Applicable to: Manufacturing, SMEs, and select service providers
This section provides partial to full...
Notification No. 05/2025 [F. No. 300196/37/2019-ITA-I] Dated 3nd January, 2025
MINISTRY OF FINANCE
(Department...
Applicable to: Individuals & HUFs (for self or dependent relatives)
This section provides tax relief...
SCSS is a savings product available for senior citizens aged 60 or above. On the date of opening an SCSS...
Under Section 10(17A) of the Income Tax Act, any award or reward received by an individual in recognition...
1. Introduction to Section 70 –
The Indian Income Tax Act, 1961, provides various provisions for...
Order No. [F. No. 225/17/2025-ITA-II] Dated 28th January, 2025
MINISTRY OF FINANCE
(Department of Revenue)
To
All...
An individual may either be a:
(a) Resident in India; or
(b) Deemed to be Resident In India...
The taxpayer has to communicate the details of his taxable income/loss to the Income tax Department.
These...
Applicable to: Indian Resident Individuals (Inventors/Patent Holders)
This section provides tax relief...
1. Introduction to Section 80CCD
Section 80CCD of the Indian Income Tax Act, 1961, provides for deductions...
Section 13 of the Income Tax Act, 1961 specifies situations where the tax exemptions under Section 11...
1. Scope of Section 56(2)(id)
This provision covers interest income from securities when:
Not chargeable...
Section 74 of the Income Tax Act, 1961 governs the treatment of capital losses, providing specific rules...
Section 168 of the Finance Act, 2016 (Chapter VIII) governs the processing of statements furnished under...
Section 10(23DA) of the Income Tax Act provides a tax exemption for income earned by a securitisation...