Purpose:
This section provides a tax exemption on family pension received by the widow or children of...
The residential status of an individual is crucial for determining tax liability in India. It classifies...
Section 63 defines what constitutes a revocable transfer for the purposes of Section 61. It clarifies...
Section 92 of The Income Tax Act 1961, states that any income, expenditure interest & allocation...
The Tax Deduction and Collection Account Number (TAN) is a 10-digit alphanumeric number issued by the...
Here’s a detailed breakdown of the collection and recovery of Equalisation Levy (EL) under Sections 166...
1. Legal Basis
Proviso to Section 206C(3): Requires sellers/collectorsto submit a statement of TCS collected...
The Deduction and Collection of Tax at Source (TDS/TCS) provisions under the Income Tax Act, 1961 are...
The registration of a charitable or religious trust under Sections 12A/12AA/12AB of the Income Tax Act,...
National Pension System (NPS) is a retirement benefit Scheme introduced by the Government of India to...
Section 220(2) of the Income Tax Act, 1961, imposes interest @ 1% per month on unpaid tax demands if...
The rules for valuation of specified fringe benefits or amenities arc as under:
1. Interest Free Or...
Section 69 of the CGST Act, 2017 grants tax authorities the power to arrest individuals suspected of...
It was introduced under chapter VIII of Finance Act, 2016. This chapter came in to force from 1st June,...
In India, hosting international sporting events is not only a matter of pride but also has significant...
Introduction:
Section 67 of the Central Goods and Services Tax (CGST) Act, 2017, deals with the power...
1. Overview
Legal Provision: Allows TCS collectorsto file a correction statement to rectify errors in...
Section 142A of the Income Tax Act, 1961 empowers the Assessing Officer (AO) to refer matters of asset...
Under Section 139C of the Income Tax Act, 1961, the Central Board of Direct Taxes (CBDT) has the authority...
Under the Income Tax Act, 1961, individuals and Hindu Undivided Families (HUFs) can claim exemptions...