Section 196A of the Income Tax Act, 1961 governs the Tax Deducted at Source (TDS) on income paid to non-residents (including foreign...
In the following Cases, Instances of Agricultural and Non-Agricultural Incomes are described in details...
1. Overview
Introduced: Finance Act, 2004.
Objective: Ensure tax compliance on income from leases/licenses...
Order No. [F. No. 225/235/2024/ITA-II] Dated 31st January, 2025
MINISTRY OF FINANCE
(Department of Revenue)
Order...
(1) Conditions to be satisfied for applicability of Section 112A [Section 112A(1)]:
Notwithstanding...
1. Provision by the employer of services of a Sweeper, a Gardener, a Watchman or Personal Attendant...
1. Overview
Section 293C of the Income Tax Act, 1961 empowers the Central Government to withdraw approvals...
Here’s a detailed explanation of Penalty under Section 271AAB(1A) of the Income Tax Act, 1961, applicable...
Note:
(a) “Basic Excise Duty” means the excise duty set forth in the Fourth Schedule to the...
Tax Treatment of Partly Agricultural and Partly Non-Agricultural Income
Tax Treatment of on Composite...
1. Core Rule (Strict Liability)
No PAN = Higher TDS/TCS:
TDS rate: 20%(instead of normal rate)
TCS...
Death-cum-Retirement Gratuity is an important financial benefit provided to employees in India. It is...
Section 10(10B) of the Income Tax Act in India provides an exemption for compensation received by employees...
Charitable and religious trusts or institutions registered under the Income Tax Act, 1961, are generally...
Applicable to: Individuals (Salaried & Self-Employed)
This section provides tax benefits for contributions...
The rules for valuation of specified fringe benefits or amenities arc as under:
1. Interest Free Or...
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
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New...
Revocation of Cancellation of Registration under GST is a process that allows a taxpayer to restore their...
Section 10(22B) of the Income Tax Act, 1961, exempts the income of a specified news agency from tax....
Here’s a detailed breakdown of incomes exempt under Section 11 of the Income Tax Act, 1961, for charitable...