Who Is Liable to Deduct Tax Under Section 206CL of Income Tax Act?
In the world of taxation, understanding the nuances of various sections of the Income Tax Act is crucial for businesses and taxpayers. One such section, Section 206CL of Income Tax…
Income Tax
How Does Section 206CQ of Income Tax Act Differ from Section 206C?
Understanding tax provisions can often be overwhelming, especially when it comes to intricate details in different sections of the Income Tax Act. Among these, Section 206CQ and Section 206C are…
How Does Section 135A of Income Tax Act Empower Income Tax Authorities?
The Indian taxation system has evolved tremendously over the years to ensure greater transparency and compliance among businesses and individuals alike. One such addition to the Income Tax Act is…
How Can You Apply for Registration Under 12AA of Income Tax Act?
Running a charitable trust or an NGO in India involves more than just doing good work it also includes fulfilling legal obligations. One of the key registrations you must obtain…
How to Avoid Penalty Under Section 271AAC of the Income Tax Act?
The Income Tax Act of India is comprehensive, with various provisions aimed at maintaining fairness and transparency in the taxation system. One such provision is Section 271AAC, which deals with…
How to Calculate Taxes Under Section 140B of Income Tax Act?
Taxation is an essential aspect of a country’s financial ecosystem, and in India, the Income Tax Act governs the levy of taxes on individuals, corporations, and various entities. One of…
What is the Role of Section 50CA of Income Tax Act in Preventing Tax Evasion?
The Indian taxation system has witnessed significant reforms over the years, and one of the critical aspects of these reforms is preventing tax evasion. The Income Tax Act of 1961…
How Section 115JC of Income Tax Act Affects Your Tax Liability?
The Indian tax system is known for its complexity and multiple layers of taxation. Among the various provisions in the section 115JC of Income Tax Act, that plays a pivotal…
The Complete Guide on Section 2(24) of the Income Tax Act
Tax laws in India are extensive, and understanding them can be challenging. One such crucial section in the Income Tax Act is Section 2(24). This section defines what constitutes “income”…