Form 10-IEA is a crucial document for taxpayers for AY 2024-2025 and onwards. It allows individuals and...
Here’s a detailed explanation of Penalty under Section 271AAC of the Income Tax Act, 1961, which applies...
Section 10(44) of the Income Tax Act, 1961 provides for exemption from income tax in India in respect...
Section 9A (Investment Fund Participation Rules):
Indirect investments by Indian residents in offshore...
Section 194LBC of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on income distributed...
Section 194K of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on income distributed...
The Income Tax Bill 2025 will come into effect from April 1, 2026, after it is vetted by a Select Committee...
When non-residents (NRIs/Foreign Investors) transfer shares/debentures of Indian companies, special tax...
The Income Tax Act, 1961 provides detailed provisions under Sections 70 to 80 for setting off and carrying...
Section 234F of the Income Tax Act, 1961 imposes a late filing fee if an assessee fails to file their...
Section 285B of the Income Tax Act, 1961, mandates producers of cinematograph films and persons engaged...
Section 59 deals with deemed income that becomes taxable under the head “Income from Other Sources” when...
Here’s a detailed breakdown of Section 271AAD of the Income Tax Act, 1961, which imposes penalties for...
Income referred to in Section 68, 69A, 69B, 69C and 69D which are undisclosed income and Investments...
Applicable to: Indian Companies
This section provides 100% tax deduction for contributions made by Indian...
1. Provision inserted under Clause ( c ) of explanation to Section 10(4D) applicable w.e.f. 2022-23
As...
Section 144B introduces a technology-driven, faceless assessment scheme to eliminate human interface,...
Section 153 prescribes strict deadlines for completing assessments, reassessments, and recomputations under...
1. Key Features of Section 69C
Objective: Targets unexplained expenseswhere the assessee cannot prove...
Section 15 of the Income Tax Act, 1961 defines what constitutes taxable salary income and specifies the...