Section 194N of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on cash withdrawals exceeding...
Here’s a detailed analysis of Immunity under Section 270AA of the Income Tax Act, 1961, which protects...
1. Introduction of Block Assessment Provisions in cases of Search under Section 132 and Requisition under...
Section 7 of the Income Tax Act, 1961, defines certain incomes that are deemed to be received in India,...
Understanding of Section 54B
Agriculture plays a vital role in the economy of many countries, providing...
Section 10(4F) of the Income Tax Act, 1961 in India provides an exemption for income earned by a non-resident...
Applicable to: Individuals & HUFs
Section 80C is one of the most popular tax-saving sections, allowing...
1. Legal Provision
Section 206C(6)imposes penalties on sellers/collectors who fail to collect Tax Collected...
Introduction
The Goods and Services Tax (GST) is a comprehensive, multi-stage, destination-based tax...
1. Enabling the Commissioner (Appeals) to levy Penalty under Section 271AAB. 271AAC and 271AAD of the...
The Indian Income Tax Act, 1961 classifies taxable income under five distinct heads, with “Income...
Suo Moto Cancellation of registration may be initiated by the Tax Official for various situations as...
Government of India
Department of Revenue
Ministry of Finance
Central Board of Direct Taxes
New Delhi,...
Section 143(1) of the Income Tax Act, 1961 governs the automated processing of income tax returns by...
Section 194LC of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on interest payments...
Understanding Section 71: Inter-Head Adjustment
Section 71 of the Income Tax Act, 1961 allows taxpayers...
Section 194DA of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payouts from life...
Chargeability/Scope/Meaning of Income under the head “Profits and Gains of Business and Profession” under...
1. Legal Basis
Section 206C(6A)empowers tax authorities to impose penalties under Section 221 on sellers...
Section 10(25A) of the Income Tax Act provides a complete tax exemption for any income of the Employees’...