The Income Tax Act contains provisions to prevent tax avoidance by transferring income to other persons...
Block Assessment Under Section 158BC Consolidates Undisclosed Income From Search Cases. Learn About The...
Under Section 23(2) to (4) of the Income Tax Act, 1961, a self-occupied residential property (SOP) is...
In the context of the Goods and Services Tax (GST), the term “non-supplies” refers to transactions...
Section 10(23FBB) of the Income Tax Act deals with taxation of business income earned by unit holders...
1. Income Tax Law
An understanding of the Income-tax law requires a study of the following:
(I) ...
Here’s a comprehensive analysis of Section 56(2)(viib) of the Income Tax Act, 1961, which taxes share...
Overview
Section 157A of the Income Tax Act, 1961, was introduced to empower the Central Government to...
Understanding Section 10(8)
Section 10(8) provides tax exemption for income received by:
Foreign technicians/experts
Employees...
Ministry of Finance
HIGHLIGHTS OF UNION BUDGET 2025-26
Posted On: 01 FEB 2025 1:29PM by PIB Delhi
PART...
1. Introduction to Clubbing of Income
The Indian Income Tax Act, 1961, has provisions that prevent taxpayers...
Section 234D of the Income Tax Act, 1961, mandates that taxpayers repay excess refunds received during...
1. Overview
Legal Provision: Allows TCS collectorsto file a correction statement to rectify errors in...
Section 234H of the Income Tax Act, 1961 imposes a fee for failure to intimate/link one’s Aadhaar...
1. Dividend Declaration vs. Retained Earnings
Dividends:
Taxable in shareholders’ hands (10%...
Tax on Non-Agricultural Income with partial Agricultural Income
As already discussed, there is no tax...
The Tonnage Tax Scheme is a special taxation regime introduced under Chapter XII-G (Sections 115V to...
Applicable to: Businesses engaged in collecting/processing biodegradable waste
This section provides...
Here we discuss all the Provisions towards Computation of Capital Gain in certain Special Cases and the...
Introduction
In the world of business and finance, it is not uncommon for companies to convert their...