Here’s a detailed explanation of the Procedure for Imposing Penalty under Section 274 of the Income Tax...
A recognized provident fund is a retirement savings scheme that is approved by the government. It is...
Under Section 240 of the Income Tax Act, 1961, refunds arising from appellate or other proceedings are...
The Goods and Services Tax (GST) Act, 2017, has laid down comprehensive guidelines for recovery proceedings...
Section 10(23BBE) of the Income Tax Act provides a complete tax exemption for the income of the Insurance...
Section 206C(1G) of the Income Tax Act, 1961 mandates Tax Collected at Source (TCS) on:
Outbound remittancesunder...
The Inverted Duty Structure (IDS) under the Goods and Services Tax (GST) regime is a situation where...
Section 194LBA of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on specific income...
Section 144 of the Income Tax Act, 1961, empowers the Assessing Officer (AO) to determine a taxpayer’s...
1. Legal Requirement
Section 206C(5): Mandates that every seller/collectormust issue a TCS certificate...
Section 194N of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on cash withdrawals exceeding...
Section 55(2) of the Income Tax Act, 1961, provides crucial rules for determining the cost of acquisition of...
Under Section 10(4D) of the Income Tax Act, a specified fund is eligible for certain exemptions on its...
Introduction
The Goods and Services Tax (GST) is a comprehensive, multi-stage, destination-based tax...
The Capital Gains Accounts Scheme (CGAS) 1988 is a scheme under the Income Tax Act, 1961, in India. It...
as per Part “C” of Schedule II of the Companies Act, 2013 after making following assumptions:
The...
Special Provisions for computing Business income in certain cases on the basis of Estimated Income Method...
Section 196B of the Income Tax Act, 1961 governs the Tax Deducted at Source (TDS) on income paid to non-residents or foreign...
Section 196A of the Income Tax Act, 1961 governs the Tax Deducted at Source (TDS) on income paid to non-residents (including foreign...
Section 169 of the Finance Act, 2016 (Chapter VIII) governs the rectification of mistakes in the context...