Charitable and religious trusts or institutions registered under the Income Tax Act, 1961, are generally...
Section 80QQB of the Income Tax Act provides a deduction in respect of royalty income earned by authors....
Section 206C(1G) of the Income Tax Act, 1961 mandates Tax Collected at Source (TCS) on:
Outbound remittancesunder...
Under the Indian Income Tax Act, 1961, the taxability of income from letting out of machinery, plant,...
as per Part “C” of Schedule II of the Companies Act, 2013 after making following assumptions:
The...
Here’s a detailed explanation of Section 269T of the Income Tax Act, 1961, which governs the mode of...
Section 167 of the Finance Act, 2016 (Chapter VIII) governs the furnishing of statements for the Equalisation...
Death-cum-Retirement Gratuity is an important financial benefit provided to employees in India. It is...
Applicable to: Enterprises engaged in infrastructure, power, telecom, SEZs, etc.
This section provides 100%...
Section 10(16) of the Income Tax Act, 1961 provides exemption from income tax for scholarships granted...
The Income Tax Act, 1961, includes specific provisions to protect the interests of Micro, Small, and...
Circular No. 01/2025 [F. No. 500/05/2020/FT&TR-II] Dated 21st January, 2025
Government of India
Ministry...
Section 115JB(2) mandates that the Statement of Profit & Loss (P&L) for MAT computation must...
The Finance (No. 2) Bill, 2024, has introduced several significant amendments to the capital gains tax...
Section 142A of the Income Tax Act, 1961 empowers the Assessing Officer (AO) to refer matters of asset...
Applicable to: Individual authors/researchers (Indian residents)
This section provides tax relief on royalty...
Political parties play a crucial role in any democratic society. They serve as the voice of the people,...
1. Business [Section 2(13)]
Business includes:
Any trade, commerce, or manufacturing activity;
Any adventure...
Section 13 of the Income Tax Act, 1961 specifies situations where the tax exemptions under Section 11...
1. Automated Processing by CPC-TDS
Centralized Processing Center (CPC-TDS)processes all TDS returns
Auto-validationof...