Income-taxAct,1961:Notificationunderundersection2(1A)(c),poviso,clause(ii)(B)and section2(14)(iii)(b);Urbanisationofareas WhereasadraftnotificationwaspublishedbytheCentralGovernmentinexerciseofthepowersconferred byitem(B)ofclause(ii)oftheprovisotosub-clause(c)ofclause(1A),anditem(b)ofsub-clause(...
There was a great need and importance for introducing the provisions of section 68 under the income tax act, 1961 to safeguard and protect the interest of revenue, as assessee was engaged in harmful tax practices to evade tax in the form of Black Money,
Section 192 of Income-Tax Act, 1961 deals with the Tax deducted at source from salary. TDS deducted from the salary will be ultimately reflected in your Form 16. Recently the government gave it a final nod to the proposed amendment under section 192 of Income-Tax Act, 1961 pertaining to...
Section 9 of the Income Tax Act, 1961: Defaced and DefiledAndharia, PrateekNatl L.sch.india Rev
Exemption under Section 10 (1) on agricultural income If you earn any type of agricultural income in a financial year, such an income would be exempted from tax. Agricultural income, as defined under Section 2 (1A) of the Income Tax Act, 1961, would include the following types of incomes...
Tax rates and brackets change annually. Here are the 2025 updates to the federal income tax withholding tables to know.
In a significant relief for taxpayers, the CBDT, through Circular No. 20/2024 dated Dec 30, 2024, has extended the due date for determining the payable amount under column (3) of the Table in section 90 of the Direct Tax Vivad Se Vishwas Scheme, 2024. ...
Issuance of 15CA and 15CB certificate for remittance to Non-resident/Foreign Entities under section 195 of the Income-tax Act, 1961 Issuance of Certification for repatriation of fund upto USD 1 million of balances in NRO accounts/of sale proceeds of assets up to USD 1 million, of balances ...
Clubbing of Income as the term suggests, means adding the income of another person to the income of the person who is paying the tax. This term is explained under Section 64 of the Income Tax Act.
Who Administers the Tax Laws in the United States? The Internal Revenue Service administers the tax laws in the United States. According to Title 26 of the IRS Code, individuals who receive taxable income as defined in Section 61, Gross Income Defined, of the IRS Code must pay income tax....