Applicable to: Individuals, HUFs, Firms, AOPs, BOIs, and others (except companies)
This section provides...
1. Overview
Section 293C of the Income Tax Act, 1961 empowers the Central Government to withdraw approvals...
Section 147 empowers the Assessing Officer (AO) to reassess or recompute income that has escaped taxation in...
Section 10(23BBD) of the Income Tax Act provides a tax exemption for the income of the ASOSAI-SECRETARIAT—that...
Insertion of new section 8A.
153. In the Goods and Services Tax (Compensation to States) Act, 2017 (15...
Section 194-I of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on rent payments exceeding...
Yes, under Section 238 of the Income Tax Act, 1961, a person other than the assessee can claim a refund...
The “Full Value of Consideration” (FVC) is the total amount received or receivable when a...
(A) In the case of every Individual or Hindu Undivided Family (HUF)
(A1) If the individual...
Under the Income Tax Act, 1961, rent-free or concessional accommodation provided by an employer is a taxable...
Here’s a detailed summary of the removal of the Equalisation Levy (EL) in India, including key changes,...
Purpose:
This section provides a full tax exemption on any scholarship granted to meet educational expenses,...
Under Section 139(4B) of the Income Tax Act, 1961, political parties in India are mandatorily required to...
Gratuity is a lump-sum payment made by an employer to an employee as a token of appreciation for long-term...
Leave salary, or leave encashment, refers to the payment an employee receives for unused leave days....
Section 197 of the Income Tax Act, 1961 provides a mechanism for taxpayers to obtain certificates for...
Business trusts have gained popularity in recent years as a unique investment vehicle. They offer investors...
Section 10(23FBC) of the Income Tax Act provides a tax exemption for income earned by a unit holder from...
1. Overview
Section 115BBD provided a concessional tax rate of 15% (plus surcharge and cess) on dividends...
To give relief to small taxpayers from the tedious job of maintenance of books of account and from getting...