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...
Income Tax
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...
Section 194R of the Income Tax Act
Summary of Section 194R Section 194R: TDS @ 10% on Benefits or Perquisites arising out of Business or Profession Section...
All about New TDS Section 194R and Section 194S
The Finance Bill 2022 has proposed two completely new TDS sections, 194R and 194S, in the Income Tax Act, to...
PROCEDURE FOR DISTRAINT BY ASSESSING OFFICER OR TAX RECOVERY OFFICER
Distraint and sale Where any distraint and sale of movable property are to be effected by any Assessing Officer or...
Taxation of Life Insurance Business
A.—Life insurance business Profits of life insurance business to be computed separately 1. In the case of a person who carries...
Income Tax Provision for insurance business
A.—Life insurance business Profits of life insurance business to be computed separately 1. In the case of a person who carries...
Section 298 of the Income Tax Act
Section 298 of the Income Tax Act: Power to remove difficulties (1) If any difficulty arises in giving effect to...
Section 297 of the Income Tax Act
Section 297 of the Income Tax Act: Repeals and savings (1) The Indian Income-tax Act, 1922 (11 of 1922), is...
Section 296 of the Income Tax Act
Section 296 of the Income Tax Act: Rules and certain notifications to be placed before Parliament The Central Government shall...