Section 115JB ensures that companies with substantial book profits but low or no taxable income (due...
Section 234E of the Income Tax Act, 1961, imposes a late filing fee for delays in submitting TDS (Tax...
Finance Bill 2025 Extends ITR-U Filing To 4 Years With 25%-70% Additional Tax. Learn Deadlines, Eligibility,...
The Budget 2025 has introduced enhanced threshold limits for TDS, ensuring that smaller transactions...
Section 245 of the Income Tax Act, 1961 allows the Income Tax Department to adjust (set off) a taxpayer’s refund...
Applicable to: Individual taxpayers
This section provides a deduction for interest paid on loans taken...
Here’s a detailed analysis of Section 271J of the Income Tax Act, 1961, which imposes penalties...
The Income Tax Act, 1961 governs the taxation of companies in India, outlining rules for computation,...
This section provides exemption for certain allowances received by employees to meet expenses incurred in...
1. Overview
Legal Provision: Allows TCS collectorsto file a correction statement to rectify errors in...
Understanding of Section 80D
Section 80D of the Income Tax Act provides individuals with a deduction...
Order No. [F. No. 225/235/2024/ITA-II] Dated 31st January, 2025
MINISTRY OF FINANCE
(Department of Revenue)
Order...
Under Explanation 1(iii) to Section 115JB(2), companies can deduct the lower of:
Brought forward losses(as...
When a disaster strikes, it can cause immense damage to life and property. In such difficult times, the...
Section 63 defines what constitutes a revocable transfer for the purposes of Section 61. It clarifies...
Section 10(12) of the Income Tax Act governs the tax treatment of withdrawals from a Recognised Provident...
1. Income Tax Law
An understanding of the Income-tax law requires a study of the following:
(I) ...
Under Section 248 of the Income Tax Act, 1961, a person who denies liability to deduct tax at source...
Section 10(4C) of the Income Tax Act, 1961 in India provides an exemption for interest income earned...
Trade unions play a crucial role in protecting the rights and interests of workers. They negotiate with...