The Government of India’s Department of Posts, Ministry of Communications, offers fixed deposit accounts...
1. Litigation management when in an appeal by revenue an identical question of law is pending before...
1. When Does This Apply?
When the taxpayer calculates their own advance tax liability(not based on the...
Applicable to: Businesses engaged in collecting/processing biodegradable waste
This section provides...
Section 44AD provides a presumptive taxation scheme for small businesses, allowing them to declare income...
Section 169 of the Finance Act, 2016 (Chapter VIII) governs the rectification of mistakes in the context...
Notification No. 13/2025 [F. No.370142/9/2024-TPL] Dated 07th February, 2025
MINISTRY OF FINANCE
(Department...
Gratuity is a payment made by the employer to an employee in appreciation of the past services rendered...
Interest incomes which are exempt under section 10(15) could be explained with the help of the following...
Section 115F of the Income Tax Act, 1961, provides a tax exemption to Non-Resident Indians (NRIs) on long-term...
This section provides tax exemptions on certain types of interest income earned from specified bonds,...
As per Section 44AA and Rule 6F, persons carrying on Business and Professions specified below are mandatorily...
Section 234B(3) deals with the recalculation of interest under Section 234B when the assessed tax is...
1. Legal Provision
Section 206C (7)mandates that sellers/collectors must pay interest if they:
Fail...
1. Primary Responsibilities of Deductor
Tax Deduction at Source:
Must deduct correct % as per Income...
Section 40A of the Income Tax Act, 1961 specifies certain expenses or payments that cannot be deducted while...
Section 10(23BB) of the Income Tax Act provides a tax exemption for the income of a Khadi and Village...
1. Legal Basis
Proviso to Section 206C(3): Requires sellers/collectorsto submit a statement of TCS collected...
Section 22 of the Income Tax Act, 1961, defines when and how income from house property becomes taxable.
1....