The Supreme Court of India’s decision in the case of Chief Commissioner of Central Goods and Services...
Section 196A of the Income Tax Act, 1961 governs the Tax Deducted at Source (TDS) on income paid to non-residents (including foreign...
The registration of a charitable or religious trust under Sections 12A/12AA/12AB of the Income Tax Act,...
1. Legal Provision
Section 206C (7)mandates that sellers/collectors must pay interest if they:
Fail...
Section 54H of the Income Tax Act, 1961 in India provided for an extension of time for acquiring a new...
Section 80U of the Income Tax Act provides relief to individuals with disabilities by allowing them to...
Here’s a structured breakdown of the types, definitions, and residential status of companies under the Income...
Section 115BAB of the Income Tax Act, 1961 provides a concessional tax rate of 15% (plus surcharge &...
Section 206C(1G) of the Income Tax Act, 1961 mandates Tax Collected at Source (TCS) on:
Outbound remittancesunder...
Here’s a detailed explanation of Section 173 (Penalty Not to Be Imposed in Certain Cases) under the Equalisation...
1. Overview
Applicability: Mandates sellersto collect Tax at Source (TCS) on receipt of sale consideration from...
Interest on Non-resident (External) Account (NRE) is exempt from income tax in India under Section 10(4)(ii)...
Compensation received by an individual or their legal heirs in the event of a disaster is governed by...
Under Section 246A of the Income Tax Act, 1961, taxpayers can file an appeal before the Commissioner...
In the era of GST, the removal of check posts nationwide aimed to streamline the movement of goods within...
Section 10(16) of the Income Tax Act, 1961 provides exemption from income tax for scholarships granted...
Section 10(23BBC) of the Income Tax Act provides a tax exemption for the income of the SAARC Fund for...
Section 194P of the Income Tax Act, 1961, provides a TDS exemption for senior citizens (aged 75+) with...
Section 37(1) of the Income Tax Act, 1961 is a crucial provision that allows businesses and professionals...
1. General Rule for All Non-Company Entities [Section 6(2)]
The residential status of Firms, AOPs, BOIs,...