Government of India Ministry of Finance (Department of Revenue Central Board of Indirect Taxes & Customs North Block, New ...

Section 206C (1) mandates the seller to collect tax at source (TCS) from buyer, at specified rates, on sale of specified goods such as alcoholic liquor, timber, tendu leave, any other forest produce ...

The NPS Vatsalya Scheme, launched on September 18, 2024, allows parents or guardians to open National Pension Scheme (NPS) accounts for their minor children. Under Section 80CCD of the Income Tax Act, ...

The National Savings Scheme (NSS) allows individuals or Hindu Undivided Families (HUF) to claim deductions for amounts deposited under Section 80CCA, but the withdrawn amount, along with interest, is ...

The Finance Bill 2025 proposes an extension of the benefits under Section 80-IAC of the Income Tax Act for eligible startups. Section 80-IAC provides a 100% deduction on business profits for startups, ...

The Finance Bill 2025 brings an amendment to Section 9 of the Income-tax Act, 1961, which addresses the deemed accrual of income in India for foreign entities or non-residents. Under existing ...

Ans. The tax rate for income by way of long-term capital gains arising from the transfer of the aforementioned securities by FIIs is now proposed to be 12.5%. With this amendment, long term capital ...

Ans. As per new section 44BBD, 25% of the aggregate amount received/ receivable by, or paid/ payable to, the non-resident, on account of provision of services or technology, are deemed as profits and ...

a. The amenities and benefits (in general) received by employees with a salary below certain limit would be exempt from being treated as perquisite. The limits, presently at Rs 50,000/- per annum, can ...

Ans. Business trusts (Infrastructure Investment Trusts or Real Estate Investment Trust) have been given a pass-through status in respect of interest income, dividend income and rental income from a ...

Ans. As a consequence of the amendment bringing securities held by investment fund as a capital asset, the transfer of such securities shall be taxed as capital gains. Consequently, the income shall ...

Ans. In the present provisions, in the case of Unit Linked Insurance Policy, even where payable premium exceeded 10 percent of the sum assured, the sum received on redemption was not being charged to ...