The case clarifies that only specified adjustments can be made while computing book profit under MAT. The ruling limits arbitrary additions by tax authorities. Key takeaway: MAT computation is strictly rule-based.
The new regime offers a concessional 22% tax rate for domestic companies. However, key deductions and depreciation benefits are restricted, requiring careful evaluation.
The issue covers taxation and computation of house property income under the new law. The key takeaway is clarity on annual value, deductions, and exemptions.
Understand how Chapter VIII reshapes deductions with strict conditions, structured sections, and limits. Learn key compliance rules and eligibility criteria.
Section 63 of Income Tax Act 2025 sets audit limits, forms, due dates, and penalties for non-compliance in business and profession cases.
The Income-tax Act 2025 introduces the new tax regime as the default taxation method for individuals and certain entities. Taxpayers may opt out while filing returns if they prefer the traditional regime.
The 2025 law mandates advance tax on estimated income in four instalments, with limited exemptions for senior citizens and small liabilities. Missing deadlines may trigger interest under Sections 424 and 425.
FAQs on TCS under Income Tax Act, 2025 as amended by Finance Bill, 2026, covering rates, exemptions, PAN, returns, due dates, interest and penalties.
A comprehensive overview of the revamped TDS structure, detailing how the Act reorganizes withholding rules and clarifies rates, thresholds, and compliance obligations.
Overview of the New Income Tax Act, 2025 structure for Salary income. Covers taxable perquisites, standard deduction limits, and exemptions for gratuity, leave encashment, and funds.
