Section 68 is a critical anti-evasion provision that targets unexplained sums credited in a taxpayer’s...
1. [Section 80C]: Deduction in respect of Life Insurance Premium, Deferred Annuity, Contributions to...
Gratuity is a lump-sum payment made by an employer to an employee as a token of appreciation for long-term...
Arrears of salary refer to payments received by an employee for work done in previous financial years...
Section 156 of the Income Tax Act, 1961, governs the issuance of demand notices by the Assessing Officer...
Section 206C of the Act provides for tax collection at source (TCS) on business of trading in alcoholic...
Section 194-IB of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on rent payments exceeding ₹50,000/month by individuals...
Leave encashment refers to the practice of converting accumulated leave into cash. Many organizations...
Yes, under Section 238 of the Income Tax Act, 1961, a person other than the assessee can claim a refund...
1. Documents Required to Apply for NRI PAN Card
As a Non-Resident Indian (NRI), obtaining a Permanent...
Applicable to: DPIIT-recognized startups (Private Companies/LLPs)
This section provides a 100% tax deduction...
Section 10(10B) of the Income Tax Act in India provides an exemption for compensation received by employees...
Under Section 139(3) of the Income Tax Act, 1961, taxpayers can file a Return of Loss to carry forward...
The Finance (No. 2) Bill, 2024, introduces significant amendments to the Central Goods and Services Tax...
The taxation of dividends in India has undergone significant changes over the years. This article aims...
Section 44AD provides a presumptive taxation scheme for small businesses, allowing them to declare income...
Under Section 261 of the Income Tax Act, 1961, an appeal can be filed before the Supreme Court of India against...
Section 147 empowers the Assessing Officer (AO) to reassess or recompute income that has escaped taxation in...
Overview of STCG under Section 111A
Short-term capital gains (STCG) arising from the transfer of equity...
Under the Income Tax Act, 1961, and the Constitution of India, an appeal can be filed before the Supreme...