1. Fundamental Principle
TDS Credit Mechanism: Any tax deducted at source (TDS) is treated as:
Payment...
Section 218 of the Income Tax Act, 1961 deals with situations where a taxpayer is considered to be in...
Section 54 of the Income Tax Act, 1961 provides tax exemption on long-term capital gains (LTCG) arising...
The Supreme Court of India’s decision in the case of Chief Commissioner of Central Goods and Services...
Section 54GB of the Income Tax Act, 1961, provides tax exemption on long-term capital gains (LTCG) from...
The Post Office has been a trusted place for depositing and transacting with money. This is especially...
The transformation of a Partnership Firm or a Proprietorship Firm into a Private Limited Company is a...
Section 10(23DA) of the Income Tax Act provides a tax exemption for income earned by a securitisation...
1. What is Section 282A?
Section 282A mandates proper authentication of all income tax notices, orders,...
Section 44AD provides a presumptive taxation scheme for small businesses, allowing them to declare income...
1. Legal Provision
Section 206C (7)mandates that sellers/collectors must pay interest if they:
Fail...
Understanding Section 10(8A)
Section 10(8A) provides full tax exemption on remuneration received by:
Non-Indian...
Under Section 139(4A) of the Income Tax Act, 1961, charitable and religious trusts/institutions must...
Ministry of Finance
Posted On: 22 JAN 2025 8:09PM by PIB Delh
CBDT notifies amendments in Income-tax...
Section 69 of the CGST Act, 2017 grants tax authorities the power to arrest individuals suspected of...
Applicable to: Individuals & HUFs
This section provides tax relief for expenses incurred on the care...
Confused About Blocked ITC Credits under GST Section 17(5) ? Learn The 6 Major Categories, Real Controversies,...
Here’s a detailed explanation of the taxability of dividends under Section 56(2)(i) as “Income...
Amendment of Section 2 [Total Income” for the purpose of Taxation]
3. In section 2 of the Income-tax...
Under the Income Tax Rules/ Act, certain taxpayers are required to get their accounts audited and submit...