Ministry of Finance
HIGHLIGHTS OF THE UNION BUDGET 2024-25
Posted On: 23 JUL 2024 1:17PM by PIB Delhi
The...
The provisions of Finance (No. 2) Bill, 2024 (hereafter referred to as “the Bill”), relating...
1. Provision by the employer of services of a Sweeper, a Gardener, a Watchman or Personal Attendant...
Under the Income Tax Act, there are certain provisions that govern the taxation of income earned by minors....
Section 194E of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payments made to non-resident...
1. Introduction to Clubbing of Income
The Indian Income Tax Act, 1961, has provisions that prevent taxpayers...
Start-ups in India can benefit from significant tax exemptions under Section 80-IAC of the Income-tax...
The Deduction and Collection of Tax at Source (TDS/TCS) provisions under the Income Tax Act, 1961 are...
The taxpayer has to communicate the details of his taxable income/loss to the Income tax Department.
These...
Any expenditure (not being expenditure of the nature described in sections 30 to 36) and not of capital...
Section 218 of the Income Tax Act, 1961 deals with situations where a taxpayer is considered to be in...
Investment planning is an essential aspect of financial management, especially for middle-class families....
Section 264A of the Income Tax Act, 1961, introduced by the Taxation Laws (Relaxation and Amendment)...
A scrutiny (regular) assessment under Section 143(3) is a comprehensive evaluation of a taxpayer’s return...
Section 17(3) defines “profits in lieu of salary” as payments received by an employee in...
Section 139B of the Income Tax Act, 1961, allows taxpayers to file their income tax returns through authorized...
Section 28 of the Income Tax Act, 1961, is a key provision that defines the types of income chargeable...
Here’s a structured table summarizing the key changes to Tax Collected at Source (TCS) effective from...
Section 10(2A) of the Income Tax Act, 1961 in India exempts a partner’s share in the total income...
1. Importance of Residential Status
Residential status determines:
Which incomes are taxable in India...