Applicable to: Developers of Affordable Housing Projects
This section provides a 100% tax exemption on...
Here’s a detailed explanation of Penalty under Section 271AAC of the Income Tax Act, 1961, which applies...
1. What is PAN?
PAN stands for Permanent Account Number. PAN is a ten-digit unique alphanumeric number...
Section 54H of the Income Tax Act, 1961, provides an extension of the reinvestment period for claiming...
National Pension System (NPS) is a retirement benefit Scheme introduced by the Government of India to...
The Sukanya Samriddhi Account is a popular savings scheme in India that aims to promote the education...
Enrolment Duration
Expenditure Duration
Beneficiaries
Central Outlay
Years
(lakhs)
(Rs....
Applicable to: Indian Companies
This section provides 100% tax deduction for contributions made by Indian...
Here’s a detailed table summarizing the tax treatment of Provident Fund (PF) contributions, interest,...
Section 73A of the Income Tax Act, 1961, governs the treatment of losses incurred in specified businesses under Section...
Section 45(1) of the Income Tax Act, 1961 is the foundational provision that defines how and when capital...
Section 194-IB of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on rent payments exceeding ₹50,000/month by individuals...
Circular No. 07/2024 [F. No.173/25/2024-ITA-I] Dated 25th April, 2024: A Detailed Analysis
The Central...
Section 43CA of the Income Tax Act, 1961 addresses the taxation of undervalued transactions involving business...
1. Legal Provision
Section 206C(4)ensures that the buyer (collectee) receives credit for the TCS amount...
Section 54GB of the Income Tax Act, 1961, provides tax exemption on long-term capital gains (LTCG) from...
Political parties play a crucial role in any democratic society. They serve as the voice of the people,...
The Income Tax Act, 1961, includes specific provisions to protect the interests of Micro, Small, and...
The introduction of Section 128A in the Central Goods and Services Tax (CGST) Act, 2017, by the Finance...
According to Section 10(2A), any share of profit received by a partner from a firm is exempt from tax....