The residential status of an individual is crucial for determining tax liability in India. It classifies...
Applicable to: All businesses (except freelancers)*
This section provides 30-60% additional wage cost...
Section 10(4E) of the Income Tax Act, 1961 in India provides an exemption for income earned by a non-resident...
Section 10(22B) of the Income Tax Act, 1961, exempts the income of a specified news agency from tax....
In the realm of Goods and Services Tax (GST), the efficient utilization and handling of Input tax credit (ITC)...
1. When Does This Apply?
When the taxpayer calculates their own advance tax liability(not based on the...
Chargeability/Scope/Meaning of Income under the head “Profits and Gains of Business and Profession” under...
The Income Tax Bill 2025 will come into effect from April 1, 2026, after it is vetted by a Select Committee...
Section 18 of the Central Goods and Services Tax (CGST) Act, 2017, deals with the availability and eligibility...
Any expenditure (not being expenditure of the nature described in sections 30 to 36) and not of capital...
Section 10(6D) provides a tax exemption to non-residents (other than foreign companies) on income received...
Applicable to: Individual taxpayers
This section provides a deduction for interest paid on loans taken...
Section 139AA was introduced in the Income Tax Act, 1961, with effect from July 1, 2017, to make it mandatory...
Applicable to: Individuals
This section allows a deduction for contributions made to approved pension...
Section 194LC of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on interest payments...
When a property is partly self-occupied (SOP) and partly let out (LOP), the Income Tax Act treats it...
Ministry of Finance
FAQs issued by CBDT on the new Capital Gains Tax Regime proposed in the Union Budget...
Here’s a detailed breakdown of the valuation of motor car perquisites under Rule 3(2) of the Income Tax...
Section 55(2) – Cost of Acquisition of Capital Asset for Computing Capital Gain
Cost of acquisition...
Here’s a detailed breakdown of the penalties for failure to deduct or pay Equalisation Levy (EL) under Section...