(1) When an asset is acquired by the government through the process of compulsory acquisition,...
Section 196C of the Income Tax Act, 1961 mandates Tax Deducted at Source (TDS) on income paid to non-residents (including...
The deductions under Chapter VI-A (Sections 80A to 80U) are subject to certain overarching rules that...
Section 10(23BBF) of the Income Tax Act provides a phased tax exemption for the North-Eastern Development...
Understanding and Conditions of Section 115F
As a Non-Resident Indian (NRI), understanding the tax implications...
The Government of India has introduced a new Amnesty Scheme under GST, notified via Notification No. 17/2024 –...
(A) Providing Tax Relief
A.1 Substantial relief is proposed under the new tax regime with new slabs and...
1. Firm to be Assessed as Firm
Essential conditions prescribed under section 184 of the Income-tax Act,...
Section 132B governs how assets seized under Section 132 or requisitioned under Section 132A are to be utilized,...
A survey under Section 133A of the Income Tax Act, 1961 is a legal procedure allowing income-tax authorities...
Here’s a consolidated table of the revised TDS threshold limits effective from April 1, 2025, based on...
1. Legal Basis
Section 206C(3): Mandates deposit of Tax Collected at Source (TCS)to the Central Government...
Under the Explanation to section 288(2), an “accountant” means a chartered accountant within...
The provisions, which are being discussed under various sub-sections of section 40A have overriding effect ...
Section 206C(1G) of the Income Tax Act, 1961 mandates Tax Collected at Source (TCS) on:
Outbound remittancesunder...
Section 197 of the Income Tax Act, 1961 provides a mechanism for taxpayers to obtain certificates for...
The following Essential & Basic Rules have to be kept in mind while calculating Deductions under...
Section 80QQB of the Income Tax Act provides a deduction in respect of royalty income earned by authors....
Charitable and religious trusts or institutions registered under the Income Tax Act, 1961, are generally...
Applicability:
Section 234A(1) of the Income Tax Act, 1961, levies interest if an assessee fails to file their...