The treatment of vouchers under GST has been a subject of debate due to their unique nature. This article...
Section 157 deals with the communication of losses determined by the Assessing Officer (AO) to taxpayers....
Section 10(2A) of the Income Tax Act, 1961 in India exempts a partner’s share in the total income...
Understanding Section 10(10A)
Section 10(10A) provides tax exemption for commuted pension amounts received...
Key Rule:
Section 61 (taxation of revocable transfers) does NOT applyif the transfer is irrevocable...
Circular No. 07/2024 [F. No.173/25/2024-ITA-I] Dated 25th April, 2024: A Detailed Analysis
The Central...
Section 195A of the Income Tax Act, 1961, governs scenarios where the payer agrees to bear the tax liability on...
Section 92 of The Income Tax Act 1961, states that any income, expenditure interest & allocation...
A scrutiny (regular) assessment under Section 143(3) is a comprehensive evaluation of a taxpayer’s return...
Section 194LB of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on interest payments...
Section 264A of the Income Tax Act, 1961, introduced by the Taxation Laws (Relaxation and Amendment)...
The Income Tax Appellate Tribunal (ITAT) is the final fact-finding authority under the Income Tax Act,...
Section 9 of the Income Tax Act, 1961, is a critical provision that determines when income is considered...
Section 10(23FE) of the Income Tax Act provides a tax exemption for certain types of income earned by...
1. Perquisites [(Section 17(2)]- Income under the head Salaries
Section 17(2) of the Income-tax Act,...
Section 18 of the Central Goods and Services Tax (CGST) Act, 2017, deals with the availability and eligibility...
Here’s a detailed explanation of Section 173 (Penalty Not to Be Imposed in Certain Cases) under the Equalisation...
Purpose:
This section provides a full tax exemption on pension received by government employees (or their...
Understanding of Section 56(2)(i)
In India, the taxation of dividends is governed by the provisions of...
1. Agricultural Income [Section 10(1)]
As per Section 10(1) of the Income Tax Act, agricultural income...