The Budget Speech for 2025-26 by Finance Minister Nirmala Sitharaman, presented in Parliament, outlines...
Income arising to a shareholder on account of Buy Back of Shares is governed by Section 10(34A) of the...
Section 10(4G) of the Income Tax Act, 1961 in India provides an exemption for certain income earned by...
Section 44AD provides a presumptive taxation scheme for small businesses, allowing them to declare income...
Retirement benefits such as pension, gratuity, provident fund, and leave encashment are taxed differently...
Here’s a detailed explanation of Section 271K of the Income Tax Act, 1961, which deals with penalties...
Section 241A allows the Income Tax Department to withhold refunds in certain cases, even if a taxpayer...
Trade unions play a crucial role in protecting the rights and interests of workers. They negotiate with...
Applicable to: Individuals, HUFs, Firms, AOPs, BOIs, and others (except companies)
This section provides...
Section 54B of the Income Tax Act, 1961, provides a tax exemption on capital gains arising from the transfer...
Section 234F of the Income Tax Act, 1961 imposes a late filing fee if an assessee fails to file their...
Section 234B(1) of the Income Tax Act, 1961, imposes interest if an assessee either:
Fails to pay advance...
Section 43B of the Income Tax Act, 1961 is a crucial provision that disallows certain expenses unless...
Short Answer: No, the Annual Value (AV) or Net Annual Value (NAV) of a property cannot be negative under...
Section 10(23FB) of the Income Tax Act provides a tax exemption for income earned by a Venture Capital...
Section 10(46) of the Income Tax Act, 1961 provides for exemption from income tax of the specified income...
1. Purpose of Section 115JAA
Allows companies to claim creditfor excess MAT paid (when MAT > normal...
Under Section 10(2) of the Income Tax Act, 1961, the sum received by a member from a Hindu Undivided...
1. Basic Principle of Assessment
Clubbed income is assessed in the hands of the transferor (not the transferee)...
Circular No. 01/2025 [F. No. 500/05/2020/FT&TR-II] Dated 21st January, 2025
Government of India
Ministry...