Notification No. 02/2025 [F. No. 275/110/2024-IT(B)] Dated 2nd January, 2025
MINISTRY OF FINANCE
(Department...
Section 54GB of the Income Tax Act, 1961 in India provides for the exemption of long-term capital gains...
Business trusts have gained popularity in recent years as a unique investment vehicle. They offer investors...
The Income Tax Appellate Tribunal (ITAT) is the second appellate authority under the Income Tax Act,...
Under the Income Tax Act, brought forward losses must be set off against eligible income in the immediately...
Section 30 to 35 covers the following expenses Allowed as Deduction while computing Profits and Gains...
Section 115JB(4) of the Income Tax Act, 1961, mandates that companies liable for Minimum Alternate Tax...
Here’s a detailed analysis of the taxability of interest on compensation or enhanced compensation under...
An Income Tax Survey is a legal procedure under Section 133A of the Income Tax Act, 1961, where tax authorities...
When an employer provides accommodation in a hotel, guest house, or similar facility, its taxability...
Here’s a structured table summarizing the key changes to Tax Collected at Source (TCS) effective from...
Tax Audit Forms
The Incomes prescribed two types of forms for tax audit:
Audit Report:
The audit report...
Section 10(10D) of the Income Tax Act, 1961, provides tax exemption on the sum received under a life...
Section 195 of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payments made to non-residents...
S.O. 614(E).-In exercise of the powers conferred by sub-section (2) of section 168 of Finance Act, 2016...
An Electoral Trust is a unique entity that plays a crucial role in the political funding of political...
Section 54H of the Income Tax Act, 1961, provides an extension of the reinvestment period for claiming...
Ministry of Finance
GOVERNMENT MAKES NEW TAX REGIME MORE ATTRACTIVE
STANDARD REDUCTION INCREASED FROM...
1. Understanding of Section 80-IAC
The Income Tax Act, 1961 provides various deductions for taxpayers...
Section 59 deals with deemed income that becomes taxable under the head “Income from Other Sources” when...