Section 54G of the Income Tax Act, 1961, provides tax exemption on capital gains arising from the transfer...
The Income Tax Act, 1961, provides a special procedure for assessments in search cases to ensure thorough...
Section 234C of the Income Tax Act, 1961, pertains to the levy of interest for deferment of advance tax....
Under Section 246A of the Income Tax Act, 1961, taxpayers can file an appeal before the Commissioner...
Section 10(11) of the Income Tax Act provides tax exemption on withdrawals from a Statutory Provident...
1. Set-Off Rules for Current Year Losses
Intra-head adjustment (Section 70):
Business losses can be...
The treatment of vouchers under GST has been a subject of debate due to their unique nature. This article...
Provisions and Amendments Relating to “Goods and Service Tax (GST)” under Finance (No.2) Bill, 2024.
Note:
(a) CGST Act means Central Goods and Services Tax Act, 2017
(b) IGST Act means...
Section 10(4H) of the Income Tax Act, 1961 in India provides an exemption for certain income earned by...
Section 28 of the Income Tax Act, 1961, is a key provision that defines the types of income chargeable...
1. Legal Basis
Section 206C(6A)empowers tax authorities to impose penalties under Section 221 on sellers...
Permanent Account Number (PAN) is a unique ten-digit alphanumeric code issued by the Income Tax Department...
Here’s a detailed analysis of Sections 269SU and 271DB of the Income Tax Act, 1961, which mandate businesses...
Section 10(10D) of the Income Tax Act deals with the tax treatment of the sum assured received from a...
Section 139D of the Income Tax Act, 1961, mandates electronic filing (e-filing) of income tax returns...
Section 10(16) of the Income Tax Act, 1961 provides exemption from income tax for scholarships granted...
S.O. 614(E).-In exercise of the powers conferred by sub-section (2) of section 168 of Finance Act, 2016...
Section 57 of the Income Tax Act, 1961, permits specific deductions while computing taxable income under...
Applicable to: Indian Companies
This section provides 100% tax deduction for contributions made by Indian...
Amendment of section 5.
147. In the Integrated Goods and Services Tax Act, 2017 (13 of 2017.) (hereinafter...