Section 30 to 35 covers the following expenses Allowed as Deduction while computing Profits and Gains...
INTRODUCTION-
In the realm of Goods and Services Tax (GST), credit and Debit notes play a pivotal role...
Section 194LD of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on interest income paid...
Overview of STCG under Section 111A
Short-term capital gains (STCG) arising from the transfer of equity...
Section 234B(4) of the Income Tax Act, 1961 provides for the adjustment of interest when there is a subsequent...
Income under the head ‘Income from House Property’ under Section 22 to 27 has been described with practical...
Amendment of section 9.
110. In the Central Goods and Services Tax Act, 2017 (12 of 2017.) (hereinafter...
Circular No. 03/2025 [F. No. 275/107/2024-IT(B)] Dated 20th February, 2025
Government of India
Ministry...
Long-term capital gain arising on the transfer of any capital asset being land or building or both is...
Section 10(23EC) of the Income Tax Act provides a tax exemption for income received by an Investor Protection...
1. Overview
Introduced: Finance Act 2021 (effective from 1st July 2021).
Purpose: Imposes higher Tax...
Income tax laws in India provide various deductions and exemptions to taxpayers, helping them reduce...
Under the Employees’ Provident Fund (EPF) scheme, employers are required to contribute to a Recognised...
Applicable to: Salaried (without HRA) & Self-Employed Individuals
This section provides tax relief...
Section 140 of the Income Tax Act, 1961 specifies who must verify the return of income and the authorized...
Section 9A (Investment Fund Participation Rules):
Indirect investments by Indian residents in offshore...
Retirement planning is crucial for employees to ensure financial security post-retirement while minimizing...
A scrutiny (regular) assessment under Section 143(3) is a comprehensive evaluation of a taxpayer’s return...
Section 10(37) of the Income Tax Act provides a capital gains exemption for individuals or Hindu Undivided...
Section 74 of the Income Tax Act, 1961 governs the treatment of capital losses, providing specific rules...