Notification No. 04/2025 [F. No. 196/1/2023-ITA-I] Dated 3nd January, 2025
MINISTRY OF FINANCE
(Department...
Section 10(4F) specifically applies to income earned by a non-resident from a unit of an International...
As per Part “C” of Schedule II of the Companies Act, 2013 after making following assumptions:
The...
Section 196C of the Income Tax Act, 1961 mandates Tax Deducted at Source (TDS) on income paid to non-residents (including...
(1) Introduction to Section-71 (Inter-Head Adjustment)
Under the Indian Income Tax Act, 1961, taxpayers...
Purpose:
This section provides a 100% tax exemption to foreign companies on income earned from leasing cruise...
The Indian Income Tax Act, 1961 classifies taxable income under five distinct heads, with “Income...
Section 54EC of the Income Tax Act, 1961, provides tax exemption on long-term capital gains (LTCG) from...
Here’s a detailed breakdown of Penalty under Section 271DA of the Income Tax Act, 1961, for failure to...
Under the Income Tax Act, 1961, and the Constitution of India, an appeal can be filed before the Supreme...
1. Introduction to Loss Carry Forward
When losses cannot be fully adjusted in the same financial year,...
1. Section 70: Inter-Source Adjustment – Set Off of Loss from one Source against Income from another...
To simplify tax compliance and enhance the ease of doing business, the Finance Act has proposed significant...
Income referred to in Section 68, 69A, 69B, 69C and 69D which are undisclosed income and Investments...
Notification No. 07/2025 [F. No. 203/20/2024/ITA-II] Dated 14th January, 2025
MINISTRY OF FINANCE
(Department...
Purpose:
This section provides a tax exemption on payments made by an Indian company to a foreign entity...
The introduction of Section 128A in the Central Goods and Services Tax (CGST) Act, 2017, by the Finance...
Unrealised rent refers to rental income that is due but not received from a tenant. The Income Tax Act,...
Applicable to: All taxpayers (Individuals, HUFs, Firms, etc.)
This section provides 100% deduction for...
Applicable to: Individuals & HUFs
Section 80C is one of the most popular tax-saving sections, allowing...