Here’s a detailed breakdown of the collection and recovery of Equalisation Levy (EL) under Sections 166...
Section 206CC of the Income Tax Act, 1961 mandates a higher Tax Collected at Source (TCS) rate if the...
Here’s a detailed analysis of Section 273A of the Income Tax Act, 1961, which empowers tax authorities...
When it comes to investing in mutual funds, it is important to understand the various tax implications....
The Income Tax Appellate Tribunal (ITAT) derives its adjudicatory powers from Section 254 of the Income...
Section 196A of the Income Tax Act, 1961 governs the Tax Deducted at Source (TDS) on income paid to non-residents (including foreign...
Section 45(3) of the Indian Income Tax Act, 1961, deals with the taxation of capital gains arising from...
When it comes to retirement planning, superannuation funds play a crucial role in providing financial...
1. Overview
Introduced: Finance Act, 2004.
Objective: Ensure tax compliance on income from leases/licenses...
A survey under Section 133A of the Income Tax Act, 1961 is a legal procedure allowing income-tax authorities...
Introduction:
Section 67 of the Central Goods and Services Tax (CGST) Act, 2017, deals with the power...
Applicable to: Individual taxpayers
This section provides a deduction for interest paid on loans taken...
1. Applicability
Section 56(2)(ib) covers casual and non-recurring income from:
Lotteries(including...
Understanding of Section 54
When an individual sells a residential house property, they are liable to...
Section 10(26) of the Income Tax Act provides a tax exemption for members of Scheduled Tribes residing...
Section 92 of The Income Tax Act 1961, states that any income, expenditure interest & allocation...
Section 281B of the Income Tax Act, 1961, deals with the Provisional Attachment of Property to Protect...
The Goods and Services Tax (GST) Act, 2017, has laid down comprehensive guidelines for recovery proceedings...
Under Section 17(2) of the Income Tax Act, 1961, certain perquisites are taxable only for “specified...
Section 9 of the Income Tax Act, 1961 is an important provision that deals with the taxation of income...