Introduction:
Section 67 of the Central Goods and Services Tax (CGST) Act, 2017, deals with the power...
1. Income Tax Law
An understanding of the Income-tax law requires a study of the following:
(I) ...
Under Section 237 of the Income Tax Act, 1961, the following persons are entitled to claim a refund of...
Section 194LA of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payments made as...
Applicable to: Banks/Financial Institutions operating in IFSCs (e.g., GIFT City)
This section provides 100%...
Section 194LB of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on interest payments...
1. Computation of Income under the head Income from “Salaries”
The first head of income is...
Section 38 of the Income Tax Act, 1961 governs deductions for depreciation and other expenses related...
Section 79 of the Income Tax Act, 1961, imposes strict restrictions on the carry-forward and set-off...
Section 194D of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payments made as insurance...
Section 167 of the Finance Act, 2016 (Chapter VIII) governs the furnishing of statements for the Equalisation...
Section 151A empowers the Central Government to implement a faceless, technology-driven scheme for reassessing...
1. Key Provision
Section 37(2B)of the Income Tax Act, 1961, disallows any deduction for expenses incurred...
Here’s a detailed breakdown of the penalties for failure to deduct or pay Equalisation Levy (EL) under Section...
In order to monitor high-value transactions conducted by taxpayers, a significant regulatory measure...
Agricultural income holds a special position in India’s taxation system, with specific exemptions...
Under Section 139(4C) of the Income Tax Act, 1961, specific categories of non-profit entities must file...
The Budget Speech for 2025-26 by Finance Minister Nirmala Sitharaman, presented in Parliament, outlines...
The Income Tax Bill 2025 will come into effect from April 1, 2026, after it is vetted by a Select Committee...
1. Introduction to Clubbing of Income
The Indian Income Tax Act, 1961, has provisions that prevent taxpayers...