Term life insurance, also known as pure life insurance, is a type of life insurance that guarantees payment...
Under the Explanation to section 288(2), an “accountant” means a chartered accountant within...
Section 10(11A) provides full tax exemption on withdrawals from a Sukanya Samriddhi Account (SSA), making...
1. Basic Principle of Assessment
Clubbed income is assessed in the hands of the transferor (not the transferee)...
1. Section 35(1A) relating to Filing Of Statement of any sum received by a Research Association, University,...
Under the Income Tax Rules/ Act, certain taxpayers are required to get their accounts audited and submit...
The Capital Gains Accounts Scheme (CGAS) 1988 is a scheme under the Income Tax Act, 1961, in India. It...
The Finance (No. 2) Bill, 2024, introduces significant amendments to the Central Goods and Services Tax...
As per Section 44AA and Rule 6F, persons carrying on Business and Professions specified below are mandatorily...
Section 10(23FF) of the Income Tax Act provides a targeted capital gains exemption for non-residents...
The Deduction and Collection of Tax at Source (TDS/TCS) provisions under the Income Tax Act, 1961 are...
Here we discuss all the Provisions towards Computation of Capital Gain in certain Special Cases and the...
Long-term capital gain arising on the transfer of any capital asset being land or building or both is...
The Finance (No. 2) Bill, 2024, has introduced several significant amendments to the capital gains tax...
Introduction
Section 54B of the Income Tax Act, 1961, provides an exemption on capital gains arising...
Section 196D of the Income Tax Act, 1961 governs the Tax Deducted at Source (TDS) on income earned by Foreign...
1. Overview of Section 58
Section 58 specifies expenses that cannot be deducted while computing taxable...
Under the Income Tax Act, 1961, certain transactions involving capital assets are excluded from the definition...
The Income Tax Act, 1961, provides a special procedure for assessments in search cases to ensure thorough...
Section 234B(4) of the Income Tax Act, 1961 provides for the adjustment of interest when there is a subsequent...