The Government of India has introduced a new Amnesty Scheme under GST, notified via Notification No. 17/2024 –...
Understanding of Section 56(2)(i)
In India, the taxation of dividends is governed by the provisions of...
1. Legal Basis
Section 206C(3): Mandates deposit of Tax Collected at Source (TCS)to the Central Government...
Section 194-I of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on rent payments exceeding...
Under Section 10(17A) of the Income Tax Act, any award or reward received by an individual in recognition...
Section 10(10AA) of the Income Tax Act, 1961 provides important tax exemptions for leave encashment (also...
Section 10(23BBD) of the Income Tax Act provides a tax exemption for the income of the ASOSAI-SECRETARIAT—that...
Here’s a structured table summarizing the key changes to Tax Collected at Source (TCS) effective from...
1. Provision by the employer of services of a Sweeper, a Gardener, a Watchman or Personal Attendant...
Understanding of Section 54
When an individual sells a residential house property, they are liable to...
When it comes to investing in mutual funds, it is important to understand the various tax implications....
1. Firm to be Assessed as Firm
Essential conditions prescribed under section 184 of the Income-tax Act,...
1. Source of the funds or any other sum provided by the lender to the borrower and credited in hooks...
Compensation received under a Voluntary Retirement Scheme (VRS) or Voluntary Separation Scheme is partially...
Circular No. 03/2025 [F. No. 275/107/2024-IT(B)] Dated 20th February, 2025
Government of India
Ministry...
1. Rationalization of provisions of TDS on sale of immovable property [Section 194-IA amended w.e.f....
Section 293D empowers the Central Government to implement a faceless (digital) scheme for granting approvals...
Section 10(12A) of the Income Tax Act, 1961 provides important tax benefits for withdrawals from the...
Key Rule
When an individual converts their self-acquired property into HUF (Joint Family) property, any...
Overview of STCG under Section 111A
Short-term capital gains (STCG) arising from the transfer of equity...