Section 10(12B) of the Income Tax Act, 1961 provides tax exemptions on partial withdrawals from the National...
S.O. 614(E).-In exercise of the powers conferred by sub-section (2) of section 168 of Finance Act, 2016...
1. Applicability
Section 56(2)(ii) covers rental income from:
Machinery
Plant(equipment, tools, vehicles)
Furniture
when not...
The Companies Act, 2013 outlines various penalties and offences that can be imposed on companies and...
Section 194BB of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on winnings from horse...
Section 244A governs the payment of interest on income tax refunds to assessees. Below is a detailed...
Understanding the intricacies of advance tax and self-assessment tax is crucial for both compliance and...
Kisan Vikas Patra is a certificate scheme from the Indian post office. It doubles a one-time investment...
Agricultural income holds a special position in India’s taxation system, with specific exemptions...
[Section 46A] : Capital Gains on Purchase by Company of its Own Shares or Other Specified Securities
(1) Capital gains tax is an important aspect of the Indian Income Tax Act, 1961. Section 46A of...
Here’s a structured overview of Collection of Tax at Lower Rate under Section 206C(9), (10), (11)...
In the realm of Goods and Services Tax (GST), the efficient utilization and handling of Input tax credit (ITC)...
1. Legal Requirement
Section 206C(5): Mandates that every seller/collectormust issue a TCS certificate...
Section 16 allows three key deductions from gross salary income before computing taxable salary. These...
Applicable to: Salaried (without HRA) & Self-Employed Individuals
This section provides tax relief...
Section 10(10D) of the Income Tax Act, 1961, provides tax exemption on the sum received under a life...
Section 139D of the Income Tax Act, 1961, mandates electronic filing (e-filing) of income tax returns...
Section 10(23FBA) of the Income Tax Act provides a targeted tax exemption for investment funds—but with...
Introduction
Section 54B of the Income Tax Act, 1961, provides an exemption on capital gains arising...