Understand the concept of capital gains tax on agricultural land as per the Income Tax Act. Learn about the definitions and exemptions related to capital assets.
According to section 269SS, it is very much clear that any assessee cannot take loan or deposit from any person of Rs. 20,000 or more in cash, in other word it is to be received by account payee cheque or account payee bank draft or any electronic mode. It has also been clarified that at the time of taking loan or deposit or making payment of loan or deposit, if any amount is outstanding in his account, this is to be considered.
Understanding TDS deduction under Section 40(a)(ia) of the Income Tax Act. Learn about the disallowance of expenses and the consequences of non-compliance.
Understanding the implications of Section 13(1)(d) and Section 11(5) in Income Tax Act. Learn about the restrictions on exemptions and investments for Charitable or Religious purposes.
Learn about the eligibility of NRIs to become trustees in public charitable trusts in India. Explore the clauses in the law and the requirements for inclusion on the board.
Understand the provisions of TDS u/s 194C on payments to contractors. Learn about who is liable to deduct tax and how to deposit it in the government treasury.
Section 80GG deduction is to be claimed only in the cases where any residential accommodation is not owned by the assessee or by his spouse or minor child or by Hindu Undivided Family of which he is a member.
Unlock the secrets of Form No 26AS, the Tax Credit Statement, with comprehensive insights. The amended form by CBDT, effective June 1, 2020, provides a holistic profile of the taxpayer, covering essential details like mobile number, email ID, Aadhar number, and more. Discover information on tax deductions, specified financial transactions, payment of taxes, demands, refunds, and pending/completed proceedings.
Advancement of any other object of general public utility would continue to be a charitable purpose, if the activity in the nature of trade, commerce, or business is undertaken in the course of actual carrying out of such advancement of any other object of general public utility and the aggregate receipts from any activity in the nature of trade, commerce or business, or any activity of rendering service in relation to any trade, commerce or business does not exceed 20% of the total receipts of the trust or institution undertaking such activities, for the previous year.
Stay compliant with the Income Tax Act by submitting your income tax return for the financial year 2021-2022. Learn about the important provisions and deadlines.
