The Goods and Services Tax (GST) Act is a comprehensive legislation that governs the taxation of goods...
Section 234H of the Income Tax Act, 1961 imposes a fee for failure to intimate/link one’s Aadhaar...
Voluntary Retirement Scheme (VRS) is a mechanism used by companies to reduce their workforce by offering...
1. Applicability
Section 56(2)(ib) covers casual and non-recurring income from:
Lotteries(including...
Section 10(19A) of the Income Tax Act, 1961, exempts the annual value of one palace in the occupation...
Section 10(12A) of the Income Tax Act, 1961 provides that any amount received by an individual from the...
Section 194LA of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payments made as...
Section 195 of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payments made to non-residents...
Section 10(6D) provides a tax exemption to non-residents (other than foreign companies) on income received...
Section 242 of the Income Tax Act, 1961, clarifies that a refund claim cannot be used to challenge the...
Here’s a detailed breakdown of Section 271AAD of the Income Tax Act, 1961, which imposes penalties for...
The following Essential & Basic Rules have to be kept in mind while calculating Deductions under...
Under Section 10(18) of the Income Tax Act, certain awardees and their family members are eligible for...
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
New Delhi,...
An approved research association refers to an organization that is primarily engaged in scientific research....
Section 151A empowers the Central Government to implement a faceless, technology-driven scheme for reassessing...
Under Section 139(4C) of the Income Tax Act, 1961, specific categories of non-profit entities must file...
The Income Tax Appellate Tribunal (ITAT) is the second appellate authority under the Income Tax Act,...
As already discussed, motor car/other vehicles, provided by the employer, is a perquisite only for specified...
Section 10(10D) provides tax exemption on amounts received from a life insurance policy, including:
Maturity...