Section 194G of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on commission or remuneration...
As already discussed, motor car/other vehicles, provided by the employer, is a perquisite only for specified...
Section 72 of the Income Tax Act, 1961, governs the carry forward and set-off of business losses, allowing...
The Income Tax Act provides multiple exemptions to reduce or eliminate capital gains tax liability if...
Here’s a detailed analysis of Section 139AA of the Income Tax Act, 1961, which mandates the quoting and...
1. Legal Basis for TDS Certificates
Section 203of the Income Tax Act, 1961 mandates that every deductor must...
1. Importance of Residential Status
Residential status determines:
Which incomes are taxable in India...
The registration of a charitable or religious trust under Sections 12A/12AA/12AB of the Income Tax Act,...
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
New Delhi,...
Objective: To discourage large cash transactions and promote digital payments.
1. Key Provisions of Section...
An approved research association refers to an organization that is primarily engaged in scientific research....
Section 10(10B) of the Income Tax Act in India provides an exemption for compensation received by employees...
Section 115BAC of the Income Tax Act, 1961, introduces a simplified tax regime with lower slab rates...
Retirement planning is crucial for employees to ensure financial security post-retirement while minimizing...
Section 55(2) of the Income Tax Act, 1961, provides crucial rules for determining the cost of acquisition of...
Section 54GB of the Income Tax Act, 1961, provides tax exemption on long-term capital gains (LTCG) from...
Section 151A empowers the Central Government to implement a faceless, technology-driven scheme for reassessing...
Rule 12 of the Income Tax Rules, 1962, prescribes the forms, conditions, and procedures for filing income...
Section 10(4) of the Income Tax Act, 1961 in India provides an exemption for certain types of interest...
An individual may either be a:
(a) Resident in India; or
(b) Deemed to be Resident In India...