1. Fundamental Principle
TDS Credit Mechanism: Any tax deducted at source (TDS) is treated as:
Payment...
Applicable to: Banks/Financial Institutions operating in IFSCs (e.g., GIFT City)
This section provides 100%...
To avail tax exemption under Section 11, a charitable or religious trust must satisfy the following mandatory...
The commuted value of pension refers to the lump sum amount received by an employee in lieu of a portion...
Here we discuss all the Provisions towards Computation of Capital Gain in certain Special Cases and the...
A Post Office Savings Account is one of the most popular and accessible savings accounts in India.
The...
The tax treatment of interest, premium, or bonus on specified investments is governed by Section 10(15)...
Section 194 of the Income Tax Act, 1961, governs Tax Deducted at Source (TDS) on dividend payments made...
Section 9 of the Income Tax Act, 1961, is a critical provision that determines when income is considered...
Here’s a detailed explanation of Penalty under Section 271AAC of the Income Tax Act, 1961, which applies...
Section 10(12) of the Income Tax Act governs the tax treatment of withdrawals from a Recognised Provident...
Here’s a detailed breakdown of the tax rates on long-term capital gains (LTCG) for assets not covered...
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...
Section 206C(1G) of the Income Tax Act, 1961 mandates Tax Collected at Source (TCS) on:
Outbound remittancesunder...
1. What is equalization levy (EL)?
This is a tax leviable on consideration received or receivable by...
Pensions are fixed sums of money that individuals receive at regular intervals after retirement. They...
Gratuity is a significant part of an employee’s remuneration package. It is a payment made by an employer...
Order No. [F. No. 225/17/2025-ITA-II] Dated 28th January, 2025
MINISTRY OF FINANCE
(Department of Revenue)
To
All...
The Tax Deduction and Collection Account Number (TAN) is a 10-digit alphanumeric number issued by the...
Under the Goods and Services Tax (GST) regime in India, healthcare services and hospital room rent are...