I start with GST. It has decreased tax incidence on the common man; reduced compliance burden and logistics...
Section 293D empowers the Central Government to implement a faceless (digital) scheme for granting approvals...
Section 192A of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on premature withdrawals...
1. Legal Provision Overview
Section 206C(1B): Mandates that sellers(collectors of TCS) must submit buyer...
Section 151A empowers the Central Government to implement a faceless, technology-driven scheme for reassessing...
Overview of Section 112A
Section 112A of the Income Tax Act, 1961 governs the taxation of long-term capital...
Under the Income Tax Act, brought forward losses must be set off against eligible income in the immediately...
Section 80DD of the Income Tax Act in India provides a deduction for individuals or Hindu Undivided Families...
Introduction
Section 54B of the Income Tax Act, 1961, provides an exemption on capital gains arising...
1. Legal Basis
Section 206C(6A)empowers tax authorities to impose penalties under Section 221 on sellers...
Section 10(12B) of the Income Tax Act, 1961 provides tax exemption to partial withdrawals from the National...
1. Introduction to Section 70 –
The Indian Income Tax Act, 1961, provides various provisions for...
Under Section 139(4A) of the Income Tax Act, 1961, charitable and religious trusts/institutions must...
1. Core Principle (Tax Credit Mechanism)
Shield for Taxpayers: When tax has been duly deducted at source...
An Association of Persons (AOP), whether incorporated or not, is treated as a `person` under section...
The registration of a charitable or religious trust under Sections 12A/12AA/12AB of the Income Tax Act,...
Under Section 234C of the Income Tax Act, taxpayers are generally required to pay advance tax in instalments....
“Deemed profits” are amounts that aren’t traditional business income, but are still taxed as business...
Here’s a detailed breakdown of the collection and recovery of Equalisation Levy (EL) under Sections 166...
Ministry of Finance
GOVERNMENT MAKES NEW TAX REGIME MORE ATTRACTIVE
STANDARD REDUCTION INCREASED FROM...