With the increasing concerns about climate change and the need to reduce pollution, there has been a...
Under the Income Tax Act, individuals and Hindu Undivided Families (HUFs) have the option to be taxed...
Section 10(6A) of the Income Tax Act, 1961, provides a tax exemption to foreign companies on income earned...
Enrolment Duration
Expenditure Duration
Beneficiaries
Central Outlay
Years
(lakhs)
(Rs....
Under the Income Tax Act, 1961, taxpayers have several remedies against orders passed by the Commissioner...
The Central Board of Direct Taxes (CBDT) has issued Notification No. 2 of 2024, which addresses the time...
To give relief to small taxpayers from the tedious job of maintenance of books of account and from getting...
Section 55(2) – Cost of Acquisition of Capital Asset for Computing Capital Gain
Cost of acquisition...
1. Fundamental Principle
TDS Credit Mechanism: Any tax deducted at source (TDS) is treated as:
Payment...
Section 40A of the Income Tax Act, 1961 specifies certain expenses or payments that cannot be deducted while...
Key Rule:
Section 61 (taxation of revocable transfers) does NOT applyif the transfer is irrevocable...
Section 10(23AAA) of the Income Tax Act provides an exemption for income received by any person on behalf...
Section 10(10D) of the Income Tax Act, 1961, provides tax exemption on the sum received under a life...
To simplify tax compliance and enhance the ease of doing business, the Finance Act has proposed significant...
Compensation received by an individual or their legal heirs in the event of a disaster is governed by...
Revocation of Cancellation of Registration under GST is a process that allows a taxpayer to restore their...
Leave encashment refers to the practice of converting accumulated leave into cash. Many organizations...
Section 264B of the Income Tax Act, 1961, pertains to the faceless effect of orders passed under the...
1. What is PAN?
PAN stands for Permanent Account Number. PAN is a ten-digit unique alphanumeric number...
In the context of the Goods and Services Tax (GST), the term “non-supplies” refers to transactions...