Amendment in Section 12A or 10(23C) Registered Organizations & FCRA Provisions
SUB-GRANTING UNDER INCOME TAX ACT Major changes have been brought in under the Finance Budget 2023 through insertion of clause...
Articles
Tax Liability of a Non Resident Indian (NRI)
In India, the tax liability of any individual is based on his residential status. There are three types of residential...
Leave Encashment Income Tax Treatment
What is Leave encashment? Leave encashment is an equivalent amount received by an employee for the unutilized leaves during a...
Section 43B applicability on Electricity Duty payable by Electricity Distributor
Whether Section 43B is applicable on Electricity Duty payable by the Licensee Assessee being Distributor of Power and Electricity –...
CBDT approves Indian Institute of Science Education & Research under Section 35(1)(ii)
CBDT approves ‘Indian Institute of Science Education and Research, Tirupati (PAN: AAAAI9820P)’ under the category of ‘University, College or Other...
Tax Implication on Gifts Under Section 56(2)(VI) of Income Tax Act, 1961
Income Tax Act defines taxable gifts as under “gift means property which is a capital asset of the assessee (i.e.,...
TDS on the sale of property : Section 194-IA
Provisions of section 194-IA of the Income Tax Act deal with the requirement of deduction of tax at source (TDS)...
Lower Deduction Certificate for TDS on sale of property by Non Resident Indian
Lower Deduction Certificate (LDC) for TDS on sale of property by Non Resident Indian (NRI) Are you an NRI who...
Section 45(4) Applicability to a Real Estate Developer Firm
The amendment to section 45(4) of the Income Tax Act, 1961 with effect from 01/04/2021 (FY 2020-21) has raised more...
Section 194S of the Income Tax Act
Summary of Section 194S Section 194S: TDS @ 1% on Purchase Consideration of Virtual Digital Asset In line with the...