To simplify tax compliance and enhance the ease of doing business, the Finance Act has proposed significant...
Section 44AA of the Income Tax Act, 1961, mandates certain taxpayers to maintain books of accounts, while Rule...
Under Explanation 1(iii) to Section 115JB(2), companies can deduct the lower of:
Brought forward losses(as...
Applicable to: Indian Companies
This section provides 100% tax deduction for contributions made by Indian...
Section 65: Audit By Tax Authorities:
Understanding the intricate process of GST audits, as outlined...
Section 234D of the Income Tax Act, 1961, mandates that taxpayers repay excess refunds received during...
Section 10(10CC) provides a unique tax benefit where certain perquisites paid by employers are exempt...
The Tonnage Tax Scheme is a special taxation regime introduced under Chapter XII-G (Sections 115V to...
When income is clubbed under Sections 60-65 of the Income Tax Act, it is taxed under the same head as...
Section 80DD of the Income Tax Act in India provides a deduction for individuals or Hindu Undivided Families...
Zero-coupon bonds, also known as deep discount bonds, are fixed-income securities that do not pay periodic...
Section 158A of the Income Tax Act, 1961, read with Rule 16 of the Income Tax Rules, 1962, provides a...
1. Legal Provision
Section 206C(6)imposes penalties on sellers/collectors who fail to collect Tax Collected...
Provisions and Amendments Relating to “Goods and Service Tax (GST)” under Finance (No.2) Bill, 2024.
Note:
(a) CGST Act means Central Goods and Services Tax Act, 2017
(b) IGST Act means...
This Trust Deed is made and executed on this [Date] day of [Month], [Year] at [Place] by:
SETTLOR:
Name:...
A Hindu Undivided Family (HUF) is a unique entity recognized by the Indian tax system. It is a family...
(1) Introduction to Section-71 (Inter-Head Adjustment)
Under the Indian Income Tax Act, 1961, taxpayers...
Applicability:
Section 234A(1) of the Income Tax Act, 1961, levies interest if an assessee fails to file their...
1. Importance of Residential Status
Residential status determines:
Which incomes are taxable in India...
1. Individual and HUF Applicants who are Citizens of India and Located Within and Outside India at the...