1. [Section 56(2)]: List of Incomes included under ‘Income from Other Sources’
There are many incomes...
Section 167 of the Finance Act, 2016 (Chapter VIII) governs the furnishing of statements for the Equalisation...
1. Legal Basis and Purpose
Section 203Amandates obtaining a 10-digit alphanumeric TAN for entities deducting/collecting...
Section 25 of the Income Tax Act lays down a specific disallowance: certain types of interest payments...
Under Section 237 of the Income Tax Act, 1961, the following persons are entitled to claim a refund of...
A Charitable and Religious Trust is a type of non-profit organization that is formed for the purpose...
Section 292B of the Income Tax Act, 1961, protects income tax proceedings from being invalidated due...
Under Section 23(5) of the Income Tax Act, 1961, a key exemption applies to real estate developers and...
Section 234C of the Income Tax Act, 1961, pertains to the levy of interest for deferment of advance tax....
Section 43B of the Income Tax Act, 1961 is a crucial provision that disallows certain expenses unless...
If you missed the deadline to claim a tax refund, you may still file a delayed refund claim under specific...
1. Core Rule (Strict Liability)
No PAN = Higher TDS/TCS:
TDS rate: 20%(instead of normal rate)
TCS...
1. When Does This Apply?
When the taxpayer calculates their own advance tax liability(not based on the...
Here’s a detailed explanation of Section 40(a)(ib) of the Income Tax Act, 1961, which deals with...
Here we describe all the Provisions towards Calculation of Tax on Short-term Capital Gains under Section...
Section 195A of the Income Tax Act, 1961, governs scenarios where the payer agrees to bear the tax liability on...
Voluntary Retirement Scheme (VRS) is a mechanism used by companies to reduce their workforce by offering...
Applicable to: All taxpayers (Individuals, HUFs, Companies, etc.)
This section provides tax benefits...
Section 10(48) of the Income Tax Act provides an exemption in respect of income received by certain foreign...
An Association of Persons (AOP), whether incorporated or not, is treated as a `person` under section...