1. Set-Off Rules for Current Year Losses
Intra-head adjustment (Section 70):
Business losses can be...
Section 115JB mandates that companies calculate Minimum Alternate Tax (MAT) based on book profits (derived...
1. Introduction to Clubbing of Income
The Indian Income Tax Act, 1961, has provisions that prevent taxpayers...
The Income Tax Act, 1961, includes specific provisions to protect the interests of Micro, Small, and...
Explanation (iv) to Section 48 of the Income Tax Act, 1961, governs the indexation of improvement costs for...
The treatment of vouchers under GST has been a subject of debate due to their unique nature. This article...
Section 40A of the Income Tax Act, 1961 specifies certain expenses or payments that cannot be deducted while...
E-Invoicing has been implemented in India in a phased manner since 1st October 2020. Let us discuss whether...
A closely held company (where the public is not substantially interested) is subject to stricter tax...
Section 10(23DA) of the Income Tax Act provides a tax exemption for income earned by a securitisation...
Section 164(2) of the Income Tax Act, 1961, deals with the taxation of discretionary trusts, including charitable...
Learn everything about Section 194K TDS on mutual fund dividends. Discover the new ₹10,000 threshold...
The Central Board of Direct Taxes (CBDT) has issued Notification No. 2 of 2024, which addresses the time...
Get Startup Tax Exemption India guidance under Section 80-IAC. Claim a 100% tax holiday for 3 years with...
The Income Tax Act provides multiple exemptions to reduce or eliminate capital gains tax liability if...
Section 80TTA of the Income Tax Act, 1961 provides for a deduction in respect of interest on deposits...
Overview of STCG under Section 111A
Short-term capital gains (STCG) arising from the transfer of equity...
Capital assets are classified into different categories under the Income Tax Act, 1961, each with unique...
Section 71B of the Income Tax Act, 1961, governs the carry forward and set-off of losses from house property,...
Section 194N of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on cash withdrawals exceeding...