Section 218 of the Income Tax Act, 1961 deals with situations where a taxpayer is considered to be in...
Applicable to: All taxpayers (Individuals, HUFs, Firms, etc.)
This section provides 100% deduction for...
Section 9 of the Income Tax Act, 1961, is a critical provision that determines when income is considered...
Section 18 of the Central Goods and Services Tax (CGST) Act, 2017, deals with the availability and eligibility...
Yes, under Section 238 of the Income Tax Act, 1961, a person other than the assessee can claim a refund...
In the realm of tax enforcement, the power of inspection, search, and seizure plays a pivotal role in...
Section 10(6B) of the Income Tax Act, 1961, provides a tax exemption to non-residents (including foreign...
1. When Does This Apply?
When the taxpayer calculates their own advance tax liability(not based on the...
Here’s a detailed analysis of Section 271J of the Income Tax Act, 1961, which imposes penalties...
Applicable to: Individuals (Salaried & Self-Employed)
This section provides tax benefits for contributions...
Section 73A of the Income Tax Act, 1961, governs the treatment of losses incurred in specified businesses under Section...
The Post Office has been a trusted place for depositing and transacting with money. This is especially...
Section 10(13) of the Income Tax Act, 1961 provides tax exemptions on payments received from an approved...
Term life insurance, also known as pure life insurance, is a type of life insurance that guarantees payment...
1. Legal Provision
Section 206C(4)ensures that the buyer (collectee) receives credit for the TCS amount...
Applicable to: Individual taxpayers
This section provides a deduction for interest paid on loans taken...
Notification No. 07/2025 [F. No. 203/20/2024/ITA-II] Dated 14th January, 2025
MINISTRY OF FINANCE
(Department...
Employee Stock Option Plans (ESOPs) are popular mechanisms through which companies attract, retain, and...
The Goods and Services Tax (GST) Act, 2017, has laid down comprehensive guidelines for recovery proceedings...
Section 10(22B) of the Income Tax Act, 1961, exempts the income of a specified news agency from tax....