1. Understanding of Section 80-IBA
Section 80-IBA of the Income Tax Act, 1961, provides a deduction...
Section 142B of the Income Tax Act, 1961 empowers the Central Government to make schemes for faceless...
Under Section 240 of the Income Tax Act, 1961, refunds arising from appellate or other proceedings are...
Section 241A allows the Income Tax Department to withhold refunds in certain cases, even if a taxpayer...
Understanding and Conditions of Section 115F
As a Non-Resident Indian (NRI), understanding the tax implications...
This Trust Deed is made and executed on this [Date] day of [Month], [Year] at [Place] by:
SETTLOR:
Name:...
Under the Goods and Services Tax (GST) regime, Goods Transport Agency (GTA) and EWAY BILL are critical...
Under the Income Tax Act, 1961, the right to claim a refund depends on who has paid the excess tax and...
1. Applicability
Section 56(2)(ii) covers rental income from:
Machinery
Plant(equipment, tools, vehicles)
Furniture
when not...
Circular No. 07/2024 [F. No.173/25/2024-ITA-I] Dated 25th April, 2024: A Detailed Analysis
The Central...
In the following Cases, Instances of Agricultural and Non-Agricultural Incomes are described in details...
Objective: To discourage large cash transactions and promote digital payments.
1. Key Provisions of Section...
The Goods and Services Tax (GST), a comprehensive indirect tax system, has been a transformative step...
Section 115BBE of the Income Tax Act, 1961 imposes a flat 60% tax rate (plus 25% surcharge and 4% cess,...
Applicable to: Businesses engaged in collecting/processing biodegradable waste
This section provides...
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
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New...
Section 211 of the Income Tax Act, 1961, mandates the payment of advance tax in four instalments during...
Purpose:
This section provides a full tax exemption on income earned by scientific research associations that...
Section 194E of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payments made to non-resident...
Section 10(12) of the Income Tax Act governs the tax treatment of withdrawals from a Recognised Provident...