1. Legal Requirement
Section 206Amandates specified entities to file statements for payments made to...
Section 194E of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payments made to non-resident...
The Faceless Appeal Scheme, 2021, introduced via Notification No. 139/2021 dated 28th December 2021,...
Section 64 of the Income Tax Act, 1961, mandates the clubbing of certain incomes earned by family members...
Section 17(3) defines “profits in lieu of salary” as payments received by an employee in...
To establish a legally valid charitable or religious trust, follow these key steps under Indian law:
1....
Section 167 of the Finance Act, 2016 (Chapter VIII) governs the furnishing of statements for the Equalisation...
1. Definition of “Person” under Section 2(31)
Section 2(31) of the Income Tax Act, 1961...
The residential status of a company is a crucial factor in determining its tax liability in India. Section...
1. Scope of Total Income / Incidence of Tax [Section 5]
Total income of an assessee cannot be computed...
Section 10(6) of the Income Tax Act, 1961 provides an exemption from income tax for certain income received...
Purpose:
This section provides a full tax exemption on the income of local authorities, such as municipalities,...
Section 10(12A) of the Income Tax Act, 1961 provides that any amount received by an individual from the...
Introduction
In the world of business and finance, it is not uncommon for companies to convert their...
Section 80U of the Income Tax Act provides relief to individuals with disabilities by allowing them to...
Under the Income Tax Rules/ Act, certain taxpayers are required to get their accounts audited and submit...
Section 10(11A) provides full tax exemption on withdrawals from a Sukanya Samriddhi Account (SSA), making...
Here’s a detailed explanation of tax relief under Section 89(1) read with Rule 21A of the Income Tax...
Income tax laws can be complex and confusing, especially when it comes to understanding the various exemptions...
Ministry of Finance
HIGHLIGHTS OF THE UNION BUDGET 2024-25
Posted On: 23 JUL 2024 1:17PM by PIB Delhi
The...