Notification No. 04/2025 [F. No. 196/1/2023-ITA-I] Dated 3nd January, 2025
MINISTRY OF FINANCE
(Department...
Ministry of Finance
GOVERNMENT MAKES NEW TAX REGIME MORE ATTRACTIVE
STANDARD REDUCTION INCREASED FROM...
Section 10(10CC) provides a unique tax benefit where certain perquisites paid by employers are exempt...
There are many incomes which are taxable under the head ‘Income from Other Sources’. However, section...
The Finance (No. 2) Bill, 2024, has introduced several significant amendments to the capital gains tax...
Section 16 allows three key deductions from gross salary income before computing taxable salary. These...
Section 193 of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on interest earned from...
The Goods and Services Tax (GST) Act is a comprehensive legislation that governs the taxation of goods...
Indian Strategic Petroleum Reserves Limited (ISPRL) plays a crucial role in ensuring the energy security...
1. Applicability
Section 56(2)(x) covers:
Cash gifts
Immovable property(land, buildings)
Movable property(jewelry,...
Section 115BAC of the Income Tax Act, 1961, introduces a simplified tax regime with lower slab rates...
Section 10(34A) of the Income Tax Act provides a tax exemption for shareholders on income received from...
1. Who is Liable?
Every taxpayer(individuals, HUFs, companies, firms, etc.) whose estimated tax liability for...
Suo Moto Cancellation of registration may be initiated by the Tax Official for various situations as...
Section 10(23FBB) of the Income Tax Act deals with taxation of business income earned by unit holders...
Section 54GA of the Income Tax Act, 1961, provides tax exemption on capital gains when a business relocates...
Section 73 of the Income Tax Act, 1961, governs the treatment of speculation business losses, imposing...
Section 54GB of the Income Tax Act, 1961, provides tax exemption on long-term capital gains (LTCG) from...
Section 80RRB of the Income Tax Act, 1961, provides for a deduction in respect of royalty income received...
Here’s a detailed summary of the removal of the Equalisation Levy (EL) in India, including key changes,...