1. Income Tax Law
An understanding of the Income-tax law requires a study of the following:
(I) ...
To establish a legally valid charitable or religious trust, follow these key steps under Indian law:
1....
The treatment of business income for a charitable or religious trust under the Income Tax Act, 1961 is...
Here’s a detailed explanation of Section 78(2) regarding carry forward and set-off of losses in...
1. Purpose of Section 115JAA
Allows companies to claim creditfor excess MAT paid (when MAT > normal...
Here’s a detailed analysis of Section 273A of the Income Tax Act, 1961, which empowers tax authorities...
Section 264B of the Income Tax Act, 1961, pertains to the faceless effect of orders passed under the...
This section provides tax exemptions on certain types of interest income earned from specified bonds,...
Order No. [F. No. 225/235/2024/ITA-II] Dated 31st January, 2025
MINISTRY OF FINANCE
(Department of Revenue)
Order...
Section 10(1) of the Income Tax Act, 1961, provides a full exemption for agricultural income, meaning...
1. Applicability of Section 56(2)(ic)
This provision covers any sum of money received by an employer from...
A format to compute the capital gain is given below:
Computation of Short-term Capital Gains
Full...
Indian Strategic Petroleum Reserves Limited (ISPRL) plays a crucial role in ensuring the energy security...
To legally establish and operate a Charitable & Religious Trust in India, the following registrations are...
Understanding and Conditions of Section 115F
As a Non-Resident Indian (NRI), understanding the tax implications...
Income tax laws can be complex and confusing, especially when it comes to understanding the various exemptions...
What is PAN?
Permanent Account Number (PAN) is a unique ten-digit alphanumeric identifier issued by...
Discover The New TCS Rules April 2025. Learn About Higher LRS Thresholds, Education Loan Exemptions,...
Section 234D of the Income Tax Act, 1961, mandates that taxpayers repay excess refunds received during...
1. Introduction to Section 70 –
The Indian Income Tax Act, 1961, provides various provisions for...