Section 158AA of the Income Tax Act, 1961 (inserted via Finance Act, 2015) provides a mechanism to prevent...
Applicable to: DPIIT-recognized startups (Private Companies/LLPs)
This section provides a 100% tax deduction...
Capital assets are classified into different categories under the Income Tax Act, 1961, each with unique...
1. Definition & Applicability
Entertainment Allowance is a special allowance given to employees to...
1. Automated Processing by CPC-TDS
Centralized Processing Center (CPC-TDS)processes all TDS returns
Auto-validationof...
1. Legal Basis
Section 206C(3): Mandates deposit of Tax Collected at Source (TCS)to the Central Government...
1. Legal Requirement
Section 206Amandates specified entities to file statements for payments made to...
Section 234E of the Income Tax Act, 1961, imposes a late filing fee for delays in submitting TDS (Tax...
Here’s a detailed summary of the relaxation of deemed let-out property provisions under the Finance Bill...
Income referred to in Section 68, 69A, 69B, 69C and 69D which are undisclosed income and Investments...
In the following Cases, Instances of Agricultural and Non-Agricultural Incomes are described in details...
Applicable to: All taxpayers (Individuals, HUFs, Companies, etc.)
This section provides tax benefits...
The Income Tax Act, 1961, provides a special procedure for assessments in search cases to ensure thorough...
Trade unions play a crucial role in protecting the rights and interests of workers. They negotiate with...
Section 10(16) of the Income Tax Act, 1961 provides exemption from income tax for scholarships granted...
Section 10(10B) of the Income Tax Act in India provides an exemption for compensation received by employees...
Voluntary Retirement Scheme (VRS) is a mechanism used by companies to reduce their workforce by offering...
Section 10(12A) of the Income Tax Act, 1961 provides that any amount received by an individual from the...
I start with GST. It has decreased tax incidence on the common man; reduced compliance burden and logistics...
There are many incomes which are taxable under the head ‘Income from Other Sources’. However, section...