Under the Income Tax Act, 1961, Sections 115QA to 115QC impose a tax on distributed income when a domestic...
Under Section 237 of the Income Tax Act, 1961, the following persons are entitled to claim a refund of...
Ministry of Finance
Posted On: 22 JAN 2025 8:09PM by PIB Delh
CBDT notifies amendments in Income-tax...
1. Legal Basis and Purpose
Section 203Amandates obtaining a 10-digit alphanumeric TAN for entities deducting/collecting...
Purpose:
This section provides a full tax exemption on income earned by scientific research associations that...
Form 10-IEA is a crucial document for taxpayers for AY 2024-2025 and onwards. It allows individuals and...
1. Section 80-IAC: Deduction in respect of Eligible Business or Eligible Start Up
Understanding of Section...
Under the Income Tax Act, brought forward losses must be set off against eligible income in the immediately...
The treatment of business income for a charitable or religious trust under the Income Tax Act, 1961 is...
Section 16 allows three key deductions from gross salary income before computing taxable salary. These...
Section 10(4) of the Income Tax Act, 1961 in India provides an exemption for certain types of interest...
Learn What Income Is Chargeable Under Section 15 Income Tax Act 1961. Understand Due Basis Vs Receipt...
Section 194LBC of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on income distributed...
Section 194M of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on certain payments made...
1. Legal Basis
Section 206C(3): Mandates deposit of Tax Collected at Source (TCS)to the Central Government...
Section 194LBA of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on specific income...
1. What is equalization levy (EL)?
This is a tax leviable on consideration received or receivable by...
Provisions and Amendments Relating to “Goods and Service Tax (GST)” under Finance (No.2) Bill, 2024.
Note:
(a) CGST Act means Central Goods and Services Tax Act, 2017
(b) IGST Act means...
Interest on Non-resident (External) Account (NRE) is exempt from income tax in India under Section 10(4)(ii)...
Here’s a detailed breakdown of the collection and recovery of Equalisation Levy (EL) under Sections 166...