Under the Income Tax Act, brought forward losses must be set off against eligible income in the immediately...
The “Full Value of Consideration” (FVC) is the total amount received or receivable when a...
Section 44AB of the Income Tax Act, 1961 mandates a compulsory tax audit for businesses and professionals...
Overview
Section 157A of the Income Tax Act, 1961, was introduced to empower the Central Government to...
Notification No. 13/2025 [F. No.370142/9/2024-TPL] Dated 07th February, 2025
MINISTRY OF FINANCE
(Department...
Under Section 10(2) of the Income Tax Act, 1961, the sum received by a member from a Hindu Undivided...
1. Basic Rule for HUF Residency
A HUF is Resident in India if:
“Control and management of its affairs...
Section 115F of the Income Tax Act, 1961, provides a tax exemption to Non-Resident Indians (NRIs) on long-term...
Introduced by the Finance Act, 2023, these provisions impose a “Ceasing Tax” on charitable/religious...
Section 10(23EC) of the Income Tax Act provides a tax exemption for income received by an Investor Protection...
Section 10(13) of the Income Tax Act, 1961 provides tax exemptions on payments received from an approved...
National Pension System (NPS) is a retirement benefit Scheme introduced by the Government of India to...
Section 45(1) of the Income Tax Act, 1961 is the foundational provision that defines how and when capital...
Section 194 of the Income Tax Act, 1961, governs Tax Deducted at Source (TDS) on dividend payments made...
Note:
(a) “Basic Excise Duty” means the excise duty set forth in the Fourth Schedule to the...
1. Allowances- Income under the head Salaries
Allowance is a fixed monetary amount paid by the employer...
Section 64 of the Income Tax Act, 1961, mandates the clubbing of certain incomes earned by family members...
Section 65: Audit By Tax Authorities:
Understanding the intricate process of GST audits, as outlined...
1. Overview
Section 293C of the Income Tax Act, 1961 empowers the Central Government to withdraw approvals...
In the realm of tax enforcement, the power of inspection, search, and seizure plays a pivotal role in...