Assessment of Charitable Organizations When Commercial Receipts Exceed 20% Threshold [Section 13(8)]
1. Key Provision (Section 13(8))
Introduced by Finance Act 2022(Effective AY 2023-24)
Applies whena...
Here’s a detailed summary of the relaxation of deemed let-out property provisions under the Finance Bill...
The Faceless Appeal Scheme, 2021, introduced via Notification No. 139/2021 dated 28th December 2021,...
The Income Tax Act contains provisions to prevent tax avoidance by transferring income to other persons...
Section 44ADA of the Income Tax Act, 1961 provides a simplified presumptive taxation scheme for eligible...
So far, we have discussed what are the various incomes, allowances and perquisites which are exempt and...
Section 74 of the Income Tax Act, 1961 governs the treatment of capital losses, providing specific rules...
Section 10(25) of the Income Tax Act provides tax exemptions for income earned by various retirement-related...
Section 157 deals with the communication of losses determined by the Assessing Officer (AO) to taxpayers....
The Deduction and Collection of Tax at Source (TDS/TCS) provisions under the Income Tax Act, 1961 are...
Section 196D of the Income Tax Act, 1961 governs the Tax Deducted at Source (TDS) on income earned by Foreign...
Section 10(4F) of the Income Tax Act, 1961 in India provides an exemption for income earned by a non-resident...
Under the Indian Income Tax Act, 1961, the taxability of income from letting out of machinery, plant,...
As per Part “C” of Schedule II of the Companies Act, 2013 after making following assumptions:
The...
1. Definition of ‘Transfer’ [Section 2(47)]
A transfer includes:
Sale, exchange, or relinquishment
Compulsory...
Section 10(23BBG) of the Income Tax Act provides a full tax exemption for the income of the Central Electricity...
Section 10(10D) provides tax exemption on amounts received from a life insurance policy, including:
Maturity...
The Income Tax Bill 2025 will come into effect from April 1, 2026, after it is vetted by a Select Committee...
1. Rationalization of provisions of TDS on sale of immovable property [Section 194-IA amended w.e.f....
Section 115F of the Income Tax Act, 1961, provides a tax exemption to Non-Resident Indians (NRIs) on long-term...