Section 10(23EE) of the Income Tax Act provides a tax exemption for specified income of a Core Settlement...
An individual may either be a:
(a) Resident in India; or
(b) Deemed to be Resident In India...
Purpose:
This section provides a 100% tax exemption to foreign companies on income earned from leasing cruise...
Section 115F of the Income Tax Act, 1961, provides a tax exemption to Non-Resident Indians (NRIs) on long-term...
The Budget 2025 proposed new tax slab rates under section 115BAC i.e., the New Tax Regime or the Default...
1. Introduction to Section 70 –
The Indian Income Tax Act, 1961, provides various provisions for...
“Deemed profits” are amounts that aren’t traditional business income, but are still taxed as business...
Under Section 253 of the Income Tax Act, 1961, appeals can be filed before the Income Tax Appellate Tribunal...
Section 36 of the Income Tax Act, 1961 lists specific deductions allowed against business income, in...
1. Scope of Section 56(2)(id)
This provision covers interest income from securities when:
Not chargeable...
In the realm of Goods and Services Tax (GST), the efficient utilization and handling of Input tax credit (ITC)...
(A) In the case of every Individual or Hindu Undivided Family (HUF)
(A1) If the individual...
Notification No. 10/2025 [F. No. 370142/26/2024-TPL] Dated 27th January, 2025
MINISTRY OF FINANCE
(Department...
Explanation (iii) to Section 48 of the Income Tax Act, 1961, defines the indexed cost of acquisition for...
Under Section 237 of the Income Tax Act, 1961, the following persons are entitled to claim a refund of...
Section 55(2) of the Income Tax Act, 1961, provides crucial rules for determining the cost of acquisition of...
Here’s a structured table summarizing the penal provisions related to Tax Collected at Source (TCS) under Sections...
Section 194LBB of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on income distributed...
Section 132 of the Income Tax Act, 1961, empowers the Income Tax Department to conduct search and seizure...
Under Section 17(2) of the Income Tax Act, 1961, certain perquisites are taxable for all employees, regardless...