1. Basic Concepts
AOP (Association of Persons): Group formed for common purpose (business/profession)
BOI...
Ministry of Finance
HIGHLIGHTS OF THE UNION BUDGET 2024-25
Posted On: 23 JUL 2024 1:17PM by PIB Delhi
The...
Applicable to: Individual taxpayers
This section provides a deduction for interest paid on loans taken...
Section 10(26) of the Income Tax Act provides special provisions for the income of a member of a Scheduled...
Here’s a detailed analysis of Section 273A of the Income Tax Act, 1961, which empowers tax authorities...
Under Section 246A of the Income Tax Act, 1961, taxpayers can file an appeal before the Commissioner...
1. What is equalization levy (EL)?
This is a tax leviable on consideration received or receivable by...
CBDT issues clarification in respect of Income-tax clearance certificate (ITCC)-Press Release by PIB
Ministry of Finance
CBDT issues clarification in respect of Income-tax clearance certificate (ITCC)
It...
Tax incentives to International Financial Services Centre
International Financial Services Centre (IFSC)...
Under Section 249 of the Income Tax Act, 1961, along with Rules 45 and 46 of the Income Tax Rules, the...
1. Documents Required to Apply for NRI PAN Card
As a Non-Resident Indian (NRI), obtaining a Permanent...
A closely held company (where the public is not substantially interested) is subject to stricter tax...
Section 234E of the Income Tax Act, 1961, imposes a late filing fee for delays in submitting TDS (Tax...
Section 234D of the Income Tax Act, 1961, mandates that taxpayers repay excess refunds received during...
Suo Moto Cancellation of registration may be initiated by the Tax Official for various situations as...
Introduction
The Goods and Services Tax (GST) registration process in India has seen a significant shift...
1. Who is Exempt?
Resident Individuals aged 60 years or above(Senior Citizens).
Condition: Must not...
A Hindu Undivided Family (HUF) is a unique entity recognized by the Indian tax system. It is a family...
The Supreme Court of India’s decision in the case of Chief Commissioner of Central Goods and Services...
Here’s a detailed explanation of tax relief under Section 89(1) read with Rule 21A of the Income Tax...