1. Source of the funds or any other sum provided by the lender to the borrower and credited in hooks...
Under the Income Tax Act, 1961, the following business/profession expenses are expressly allowed as deductions...
Suo Moto Cancellation of registration may be initiated by the Tax Official for various situations as...
The Goods and Services Tax framework has undergone significant transformations since its implementation...
Section 147 empowers the Assessing Officer (AO) to reassess or recompute income that has escaped taxation in...
Here’s a detailed analysis of the taxability of forfeited advance money for transfer of capital assets...
Section 10(12B) of the Income Tax Act, 1961 provides tax exemption to partial withdrawals from the National...
Section 44AB of the Income Tax Act, 1961 mandates a compulsory tax audit for businesses and professionals...
Section 10(12C) of the Income Tax Act, 1961 provides important tax benefits for individuals enrolled...
Understanding the intricacies of advance tax and self-assessment tax is crucial for both compliance and...
Section 40A of the Income Tax Act, 1961 specifies certain expenses or payments that cannot be deducted while...
1. Statutory Framework
Section 5 defines the scope of total income based on the taxpayer’s residential...
(A) Valuation of Perquisites: Sweeper, Gardener, Watchman, or Personal Attendant [Rule 3(3)]
Under Rule...
Section 10(11) of the Income Tax Act provides tax exemption on withdrawals from a Statutory Provident...
Section 241A allows the Income Tax Department to withhold refunds in certain cases, even if a taxpayer...
Applicable to: Indian Resident Individuals (Inventors/Patent Holders)
This section provides tax relief...
Section 10(23EE) of the Income Tax Act provides a tax exemption for specified income of a Core Settlement...
A. Changes in Basic Customs Duty (to be effective from 24.07.2024)
S. No.
Chapter, Heading, sub-...
Section 70 of the Income Tax Act, 1961, allows taxpayers to adjust losses from one source against income...
Section 194H of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payments made as commission...