Under the Goods and Services Tax (GST) regime, Goods Transport Agency (GTA) and EWAY BILL are critical...
Section 194E of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payments made to non-resident...
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...
Under Section 17(2) of the Income Tax Act, 1961, certain perquisites are taxable for all employees, regardless...
Provident Fund (PF) is a social security scheme in India that provides financial assistance to employees...
Applicable to: *Individuals aged 60+ years (including NRIs)*
This section provides higher tax relief...
Section 292B of the Income Tax Act, 1961, protects income tax proceedings from being invalidated due...
1. Legal Basis
Section 206C(6A)empowers tax authorities to impose penalties under Section 221 on sellers...
Section 9 of the Income Tax Act, 1961, is a critical provision that determines when income is considered...
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
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Section 234G of the Income Tax Act, 1961, imposes a late fee on institutions, trusts, or funds that fail...
Section 156 of the Income Tax Act, 1961, governs the issuance of demand notices by the Assessing Officer...
Voluntary Retirement Scheme (VRS) is a mechanism used by companies to reduce their workforce by offering...
Section 285BB of the Income Tax Act, 1961, mandates the Income Tax Department to provide taxpayers with...
Introduction:
Section 67 of the Central Goods and Services Tax (CGST) Act, 2017, deals with the power...
Applicable to: Indian Resident Individuals (Inventors/Patent Holders)
This section provides tax relief...
Here’s a comprehensive analysis of Section 56(2)(viib) of the Income Tax Act, 1961, which taxes share...
(1) Introduction to Section-72
Section 72, which deals with the carry forward and set off of business...
Learn How Charge Of Income Tax Section 4 Functions Under The Income Tax Act, 1961. Understand Assessment...
Section 10(50) of the Income Tax Act, 1961 provides for exemption from income tax in the hands of a non-resident...