1. Key Provision
Section 37(2B)of the Income Tax Act, 1961, disallows any deduction for expenses incurred...
Section 54H of the Income Tax Act, 1961 in India provided for an extension of time for acquiring a new...
Understanding of Capital Gain
When it comes to the transfer of shares or debentures by non-residents,...
A. Basic Conditions for Section 11 (Income from Property Held for Charitable/Religious Purposes)
Registration...
Section 54H of the Income Tax Act, 1961, provides an extension of the reinvestment period for claiming...
Section 44AA of the Income Tax Act, 1961, mandates certain taxpayers to maintain books of accounts, while Rule...
Section 10(10AA) of the Income Tax Act, 1961 provides important tax exemptions for leave encashment (also...
Here’s a detailed explanation of Penalty under Section 271AAB(1A) of the Income Tax Act, 1961, applicable...
Section 16 allows three key deductions from gross salary income before computing taxable salary. These...
Section 245 of the Income Tax Act, 1961 allows the Income Tax Department to adjust (set off) a taxpayer’s refund...
1. Legal Provision
Section 206C (7)mandates that sellers/collectors must pay interest if they:
Fail...
Section 73A of the Income Tax Act, 1961, governs the treatment of losses incurred in specified businesses under Section...
Pension is a periodic payment made to an employee after retirement. Under Section 17(1)(ii) of the Income...
Here’s a detailed breakdown of the valuation of motor car perquisites under Rule 3(2) of the Income Tax...
The commuted value of pension refers to the lump sum amount received by an employee in lieu of a portion...
Introduction:
Section 67 of the Central Goods and Services Tax (CGST) Act, 2017, deals with the power...
The Goods and Services Tax (GST) Act, 2017, has laid down comprehensive guidelines for recovery proceedings...
To give relief to small taxpayers from the tedious job of maintenance of books of account and from getting...
Section 158A of the Income Tax Act, 1961, read with Rule 16 of the Income Tax Rules, 1962, provides a...
Section 80RRB of the Income Tax Act, 1961, provides for a deduction in respect of royalty income received...