Circular No. 07/2024 [F. No.173/25/2024-ITA-I] Dated 25th April, 2024: A Detailed Analysis
The Central...
Notification No. 02/2025 [F. No. 275/110/2024-IT(B)] Dated 2nd January, 2025
MINISTRY OF FINANCE
(Department...
Gratuity is a significant part of an employee’s remuneration package. It is a payment made by an employer...
Section 10(11) of the Income Tax Act provides tax exemption on withdrawals from a Statutory Provident...
Section 234B(3) deals with the recalculation of interest under Section 234B when the assessed tax is...
Ministry of Finance
HIGHLIGHTS OF THE UNION BUDGET 2024-25
Posted On: 23 JUL 2024 1:17PM by PIB Delhi
The...
(A) In the case of every Individual or Hindu Undivided Family (HUF)
(A1) If the individual...
Under the Indian Income Tax Act, 1961, the taxability of income from letting out of machinery, plant,...
Section 28 of the Income Tax Act, 1961 defines the incomes chargeable under the head “Profits and...
Under Section 17(2) of the Income Tax Act, 1961, certain perquisites are taxable only for “specified...
Section 74 of the Income Tax Act, 1961 governs the treatment of capital losses, providing specific rules...
Here’s a detailed explanation of tax relief under Section 89(1) read with Rule 21A of the Income Tax...
Section 115JB ensures that companies with substantial book profits but low or no taxable income (due...
S.O. 614(E).-In exercise of the powers conferred by sub-section (2) of section 168 of Finance Act, 2016...
Section 132 of the Income Tax Act, 1961, empowers the Income Tax Department to conduct search and seizure...
Here’s a detailed breakdown of Section 271AAD of the Income Tax Act, 1961, which imposes penalties for...
1. Understanding of Section 80-IBA
Section 80-IBA of the Income Tax Act, 1961, provides a deduction...
The Government of India’s Department of Posts, Ministry of Communications, offers fixed deposit accounts...
Section 194N of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on cash withdrawals exceeding...
To establish a legally valid charitable or religious trust, follow these key steps under Indian law:
1....