1. Legal Basis
Section 206C(3): Mandates deposit of Tax Collected at Source (TCS)to the Central Government...
Section 10(23D) of the Income Tax Act provides a tax exemption for the income of certain mutual funds...
Section 71B of the Income Tax Act, 1961, governs the carry forward and set-off of losses from house property,...
Leave salary, or leave encashment, refers to the payment an employee receives for unused leave days....
Order No. [F. No. 225/17/2025-ITA-II] Dated 28th January, 2025
MINISTRY OF FINANCE
(Department of Revenue)
To
All...
Notification No. 04/2025 [F. No. 196/1/2023-ITA-I] Dated 3nd January, 2025
MINISTRY OF FINANCE
(Department...
Section 43CB of the Income Tax Act, 1961 standardizes the computation of income from construction contracts and service...
Here we discuss all the Provisions towards Computation of Capital Gain in certain Special Cases and the...
Section 10(10D) provides tax exemption on amounts received from a life insurance policy, including:
Maturity...
Section 151A empowers the Central Government to implement a faceless, technology-driven scheme for reassessing...
Section 139B of the Income Tax Act, 1961, allows taxpayers to file their income tax returns through authorized...
Notification No. 05/2025 [F. No. 300196/37/2019-ITA-I] Dated 3nd January, 2025
MINISTRY OF FINANCE
(Department...
Here’s a detailed table summarizing the tax treatment of Provident Fund (PF) contributions, interest,...
An Electoral Trust is a unique entity that plays a crucial role in the political funding of political...
Under Section 10(17A) of the Income Tax Act, any award or reward received by an individual in recognition...
1. Legal Definition
Primary Responsibility: The person legally obligated to deduct TCS/TDS under the...
In the context of the Goods and Services Tax (GST), the term “non-supplies” refers to transactions...
The Goods and Services Tax (GST), a comprehensive indirect tax system, has been a transformative step...
Section 10(23C) of the Income Tax Act, 1961 provides for the exemption of income of certain funds of...
What is PAN?
Permanent Account Number (PAN) is a unique ten-digit alphanumeric identifier issued by...