Section 67 of the Central Goods and Services Tax (CGST) Act, 2017 deals with the inspection, search,...
When it comes to retirement planning, superannuation funds play a crucial role in providing financial...
Section 220(2) of the Income Tax Act, 1961, imposes interest @ 1% per month on unpaid tax demands if...
Section 43B- Deductions Allowed only on Actual Payment -Profits and Gains of Business and Profession
Under Section 43B, some of the Expenses are allowed and can be claimed by the Assessee only in the year...
1. Allowances- Income under the head Salaries
Allowance is a fixed monetary amount paid by the employer...
Here’s a comprehensive analysis of Section 56(2)(viib) of the Income Tax Act, 1961, which taxes share...
Section 191 provides for situations where tax is not deducted at source (TDS) as required under other...
Section 43CB of the Income Tax Act, 1961 standardizes the computation of income from construction contracts and service...
Here’s a detailed explanation of Section 40(a)(ib) of the Income Tax Act, 1961, which deals with...
Revocation of Cancellation of Registration under GST is a process that allows a taxpayer to restore their...
Applicable to: Enterprises engaged in infrastructure, power, telecom, SEZs, etc.
This section provides 100%...
Purpose:
This section provides a tax exemption on family pension received by the widow or children of...
Notification No. 07/2025 [F. No. 203/20/2024/ITA-II] Dated 14th January, 2025
MINISTRY OF FINANCE
(Department...
Goods and Services Tax (GST) in India is a comprehensive, multi-stage, destination-based tax that is...
According to Section 10(2A), any share of profit received by a partner from a firm is exempt from tax....
The Central Board of Direct Taxes (CBDT) has issued Notification No. 2 of 2024, which addresses the time...
The Goods and Services Tax (GST) Act is a comprehensive legislation that governs the taxation of goods...
Section 142 empowers the Assessing Officer (AO) to conduct a preliminary inquiry before finalizing an...
Section 10(4B) of the Income Tax Act, 1961 in India provides an exemption for interest income earned...