Here’s a detailed analysis of Immunity under Section 270AA of the Income Tax Act, 1961, which protects...
Section 72 of the Income Tax Act, 1961, governs the carry forward and set-off of business losses, allowing...
Compensation received by an individual or their legal heirs in the event of a disaster is governed by...
Under the Income Tax Act, 1961, the Principal Chief Commissioner (PCCIT), Chief Commissioner (CCIT),...
Here’s a detailed explanation of Penalty under Section 271H of the Income Tax Act, 1961, which applies...
What is PAN?
Permanent Account Number (PAN) is a unique ten-digit alphanumeric identifier issued by...
1. [Section 80C]: Deduction in respect of Life Insurance Premium, Deferred Annuity, Contributions to...
Section 54 of the Income Tax Act, 1961 provides tax exemption on long-term capital gains (LTCG) arising...
Section 43CB of the Income Tax Act, 1961 standardizes the computation of income from construction contracts and service...
Section 115BAB of the Income Tax Act, 1961 provides a concessional tax rate of 15% (plus surcharge &...
1. Definition of “Person” under Section 2(31)
Section 2(31) of the Income Tax Act, 1961...
Applicable to: Manufacturing, SMEs, and select service providers
This section provides partial to full...
As per Section 54D, the Capital Gain arising from the transfer, by way of compulsory acquisition under...
A Post Office Savings Account is one of the most popular and accessible savings accounts in India.
The...
To give relief to small taxpayers from the tedious job of maintenance of books of account and from getting...
Section 194DA of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payouts from life...
Purpose:
This section provides a 100% tax exemption to foreign companies on income earned from leasing cruise...
The Companies Act, 2013 outlines various penalties and offences that can be imposed on companies and...
The Budget 2025 has introduced enhanced threshold limits for TDS, ensuring that smaller transactions...
Here we describe all the Provisions towards Calculation of Tax on Short-term Capital Gains under Section...