Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
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New...
Applicable to: Businesses engaged in collecting/processing biodegradable waste
This section provides...
Applicable to: Individual taxpayers buying their first home
This section provides an additional tax benefit for...
Applicable to: Registered Cooperative Societies
This section provides full or partial tax exemptions to...
The Budget 2025 proposed new tax slab rates under section 115BAC i.e., the New Tax Regime or the Default...
Section 194-O of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payments made by e-commerce...
Section 194A mandates Tax Deducted at Source (TDS) on interest payments (excluding interest on securities)...
The residential status of an individual is crucial for determining tax liability in India. It classifies...
Under the Explanation to Section 139(9) of the Income Tax Act, 1961, a return is considered defective if...
Section 281 empowers the Income Tax Department to declare certain asset transfers as void if made during...
Under the Goods and Services Tax (GST) regime, Goods Transport Agency (GTA) and EWAY BILL are critical...
Notified special allowance is an allowance that has been notified by the Central Government under Section...
1. Source of the funds or any other sum provided by the lender to the borrower and credited in hooks...
Section 68 is a critical anti-evasion provision that targets unexplained sums credited in a taxpayer’s...
1. Legal Definition
Primary Responsibility: The person legally obligated to deduct TCS/TDS under the...
Section 59 deals with deemed income that becomes taxable under the head “Income from Other Sources” when...
The Income Tax Act, 1961 governs the taxation of companies in India, outlining rules for computation,...
Employee Stock Option Plan (ESOP) has gained popularity as a tool for employee retention, especially...
Section 10(23BBA) of the Income Tax Act provides a tax exemption for the income of any body or authority...
A scrutiny (regular) assessment under Section 143(3) is a comprehensive evaluation of a taxpayer’s return...