Under Section 10(2) of the Income Tax Act, 1961, the sum received by a member from a Hindu Undivided...
Applicable to: All businesses (except freelancers)*
This section provides 30-60% additional wage cost...
Section 132A empowers the Income Tax Department to requisition (take custody of) books of account, documents,...
Section 168 of the Finance Act, 2016 (Chapter VIII) governs the processing of statements furnished under...
Section 44AD provides a presumptive taxation scheme for small businesses, allowing them to declare income...
Section 10(6) of the Income Tax Act, 1961 provides tax exemptions for certain types of remuneration received...
Applicable to: *Farmer Producer Companies (FPCs) registered under Companies Act, 1956/2013*
This section...
Section 69D targets hundi transactions (an informal financial instrument) conducted without banking channels,...
Under the Goods and Services Tax (GST) regime in India, healthcare services and hospital room rent are...
The Income Tax Law in India is a complex and ever-changing set of regulations that govern the taxation...
Section 72A of the Income Tax Act, 1961, provides exceptional relief for companies undergoing restructuring...
Here’s a structured overview of Collection of Tax at Lower Rate under Section 206C(9), (10), (11)...
Amendment of section 9.
110. In the Central Goods and Services Tax Act, 2017 (12 of 2017.) (hereinafter...
Section 10(6A) of the Income Tax Act, 1961, provides a tax exemption to foreign companies on income earned...
1. Legal Provision Overview
Section 206C(1B): Mandates that sellers(collectors of TCS) must submit buyer...
Here’s a detailed explanation of the taxability of dividends under Section 56(2)(i) as “Income...
Suo Moto Cancellation of registration may be initiated by the Tax Official for various situations as...
Under the Income Tax Act, 1961, the following business/profession expenses are expressly allowed as deductions...
1. Applicability
Section 56(2)(ib) covers casual and non-recurring income from:
Lotteries(including...
1. What is equalization levy (EL)?
This is a tax leviable on consideration received or receivable by...