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Taxability of excess consideration received on shares issued at a premium

June 7, 2026 26049 Views 1 comment Print

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.

TDS on Rent by Certain Individual or HUF under Section 194-IB

June 7, 2026 20100 Views 0 comment Print

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.

Section 194Q Explained: TDS on Goods Purchase in India

June 7, 2026 25650 Views 0 comment Print

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.

Section 194S: TDS on transfer of Virtual Digital Assets (VDA)

June 7, 2026 14682 Views 0 comment Print

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.

Understanding Section 194R: TDS on Business and Professional Benefits

June 7, 2026 11694 Views 0 comment Print

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.

Special Tax Regimes: Individuals, HUF, AOP, BOI, AJP, Companies & Co-operatives

June 7, 2026 15612 Views 1 comment Print

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.

Taxability of income of charitable or religious trusts

June 7, 2026 18762 Views 2 comments Print

The document highlights situations where exemptions under Sections 11 and 12 can be withdrawn, including benefits provided to interested persons, impermissible investments, and violations of charitable purpose conditions.

Taxability of Retirement Benefits in India

June 7, 2026 14622 Views 1 comment Print

The Income Tax Department has explained the tax treatment of gratuity, pension, leave encashment, provident funds, NPS, and retirement compensation under the amended law. The guide clarifies exemption limits, deduction eligibility, and taxable components of retirement benefits.

Deductions and Allowances for Salaried Employees: A Comprehensive Guide

June 7, 2026 25167 Views 0 comment Print

This guide explains the tax treatment of salary allowances, exemptions, and deductions available to salaried employees. It highlights how eligible claims can reduce taxable income under the Income-tax Act.

Tax-Free Government Securities for FIIs: Key changes by Income-tax (Amendment) Ordinance, 2026

June 7, 2026 1044 Views 0 comment Print

Income-tax Amendment Ordinance 2026 exempts FIIs from tax on interest and capital gains from specified Government Securities from April 1, 2026.

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