Understanding of Section 80D
Section 80D of the Income Tax Act provides individuals with a deduction...
Section 10(23D) of the Income Tax Act provides a tax exemption for the income of certain mutual funds...
1. Who is Liable?
Every taxpayer(individuals, HUFs, companies, firms, etc.) whose estimated tax liability for...
Here’s a detailed analysis of Section 273B of the Income Tax Act, 1961, which provides immunity from...
Section 192A of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on premature withdrawals...
When a disaster strikes, it can cause immense damage to life and property. In such difficult times, the...
Under Explanation 1(iii) to Section 115JB(2), companies can deduct the lower of:
Brought forward losses(as...
1. Legal Basis for TDS Certificates
Section 203of the Income Tax Act, 1961 mandates that every deductor must...
Section 196A of the Income Tax Act, 1961 governs the Tax Deducted at Source (TDS) on income paid to non-residents (including foreign...
Goods and Services Tax (GST) in India is a comprehensive, multi-stage, destination-based tax that is...
E-Invoicing has been implemented in India in a phased manner since 1st October 2020. Let us discuss whether...
Introduced by the Finance Act, 2023, these provisions impose a “Ceasing Tax” on charitable/religious...
Section 74A of the Income Tax Act, 1961, provides specific rules for the treatment of losses incurred...
The National Savings Certificate (NSC) is a fixed Income Investment scheme that you can open with any...
Provident Fund (PF) is a social security scheme in India that provides financial assistance to employees...
Section 10(10BC) of the Income Tax Act, 1961, provides an exemption for compensation received by an individual...
Section 196 of the Income Tax Act, 1961 provides an exemption from Tax Deducted at Source (TDS) for payments...
Income chargeable under the head “Income from house property” shall be computed after making...
1. Legal Provision
Section 206C(6)imposes penalties on sellers/collectors who fail to collect Tax Collected...
Concept:
Section 60applies when a person transfers only the right to receive income from an asset without...