The Goods and Services Tax framework has undergone significant transformations since its implementation...
Section 194LD of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on interest income paid...
Here’s a detailed breakdown of the tax rates on long-term capital gains (LTCG) for assets not covered...
House Rent Allowance (HRA) is a common component of most employees’ salary packages. It is provided...
Section 70 of the Income Tax Act, 1961, allows taxpayers to adjust losses from one source against income...
Here’s a detailed analysis of the taxability of interest on compensation or enhanced compensation under...
1. Computation of Income under the head Income from “Salaries”
The first head of income is...
The transformation of a Partnership Firm or a Proprietorship Firm into a Private Limited Company is a...
Here we discuss all the Provisions towards Computation of Capital Gain in certain Special Cases and the...
Section 80QQB of the Income Tax Act provides a deduction in respect of royalty income earned by authors....
Section 10(10CC) of the Income Tax Act, 1961 deals with the taxation of non-monetary perquisites provided...
The Faceless Appeal Scheme, 2021, introduced via Notification No. 139/2021 dated 28th December 2021,...
Under Section 56(2)(ib) of the Indian Income Tax Act, 1961, income from winnings is subject to taxation....
Permanent Account Number (PAN) is a unique ten-digit alphanumeric code issued by the Income Tax Department...
Applicable to: First-time homebuyers of affordable housing
This section provides an enhanced tax benefit for...
Applicability:
Section 234A(1) of the Income Tax Act, 1961, levies interest if an assessee fails to file their...
Section 206C(1G) of the Income Tax Act, 1961 mandates Tax Collected at Source (TCS) on:
Outbound remittancesunder...
Ministry of Finance
GOVERNMENT MAKES NEW TAX REGIME MORE ATTRACTIVE
STANDARD REDUCTION INCREASED FROM...
Understanding Section 10(10A)
Section 10(10A) provides tax exemption for commuted pension amounts received...
Here we describe all the Provisions towards Calculation of Tax on Short-term Capital Gains under Section...