New Section 44BBD:
Section 44BBD, introduced by the Finance Act 2025, is a presumptive taxation scheme...
Compensation received under a Voluntary Retirement Scheme (VRS) or Voluntary Separation Scheme is partially...
Section 206CC of the Income Tax Act, 1961 mandates a higher Tax Collected at Source (TCS) rate if the...
Here’s a structured summary of the key amendments related to deduction on remuneration paid to partners introduced...
Employee Stock Option Plan (ESOP) has gained popularity as a tool for employee retention, especially...
Rule 12 of the Income Tax Rules, 1962, prescribes the forms, conditions, and procedures for filing income...
Compensation received by an individual or their legal heirs in the event of a disaster is governed by...
Provisions and Amendments Relating to “Goods and Service Tax (GST)” under Finance (No.2) Bill, 2024.
Note:
(a) CGST Act means Central Goods and Services Tax Act, 2017
(b) IGST Act means...
Here’s a detailed explanation of the taxability of dividends under Section 56(2)(i) as “Income...
Section 147 of the Income Tax Act, 1961, deals with the reassessment of income if the Assessing Officer...
The Income Tax Act contains provisions to prevent tax avoidance by transferring income to other persons...
Following goods are being exempted from levy of Social Welfare Surcharge
S. No.
Description
1.
Natural...
The commuted value of pension refers to the lump sum amount received by an employee in lieu of a portion...
Section 167 of the Finance Act, 2016 (Chapter VIII) governs the furnishing of statements for the Equalisation...
Section 69D targets hundi transactions (an informal financial instrument) conducted without banking channels,...
Section 44AE of the Income Tax Act, 1961 provides a simplified presumptive taxation scheme for businesses...
Under the Goods and Services Tax (GST) regime in India, certain banking-related services are either exempt...
Section 54D of the Income Tax Act, 1961, provides tax exemption on capital gains arising from the compulsory...
Section 44AD provides a presumptive taxation scheme for small businesses, allowing them to declare income...
Section 25A of the Income Tax Act, 1961, governs the tax treatment of arrears of rent (unpaid rent recovered...