This guide explains how employees can claim relief when salary, pension, or other benefits are received in arrears or advance. It outlines the conditions, calculation method, and filing requirements under Section 89.
This guide explains how a Hindu Undivided Family is taxed based on its residential status and the status of its Karta. It highlights the scope of taxation for resident and non-resident HUFs under the Income-tax Act.
Section 194-IA requires buyers of immovable property to deduct TDS at 1% when the sale consideration or stamp duty value is ₹50 lakh or more. The guide explains deduction, deposit, reporting requirements, and consequences of non-compliance.
The document highlights that start-ups enjoying exemption must comply with prescribed restrictions on investments and asset acquisitions. Failure to meet these conditions can result in taxation of excess premium and penalty consequences.
The Income Tax Department has clarified that individuals and HUFs paying rent above ₹50,000 per month must deduct TDS under Section 194-IB. The guide explains deduction rates, compliance requirements, and filing procedures.
The guide outlines exemptions available to government departments, specified non-residents, and transactions in securities traded through recognized exchanges. These exclusions help define the scope of the provision.
The guide provides detailed rules for VDA transfers executed through exchanges, brokers, and payment gateways. It identifies who is responsible for deducting tax in different transaction structures and compliance scenarios.
The document explains that deduction under Section 194R is required even without examining whether the benefit is taxable in the recipient’s hands. The obligation arises solely from providing the benefit or perquisite.
The Income Tax Department has clarified the concessional tax regimes available to companies, individuals, and co-operative societies. The guide explains that lower tax rates are available only if taxpayers forgo specified exemptions, deductions, and tax benefits.
The document highlights situations where exemptions under Sections 11 and 12 can be withdrawn, including benefits provided to interested persons, impermissible investments, and violations of charitable purpose conditions.
