IGST Section 1: Short Title, Extent and Commencement
Provisions under Section 1 of the IGST Act, 2017 relating to "Short Title, Extent and Commencement".
Author: Vinod Arora
New Mechanism for GST Post-Sale Discount Evidence
CBIC circular on compliance mechanism for post-sale discounts, by obtaining CA/CMA certificates or recipient undertakings.
Health and Education Cess Rates under Income Tax (AY 2024-25)
Explore about the Health and Education Cess Rates applicable under the Income Tax in respect of AY 2024-25 for all types of assessees and taxation schemes.
Income Tax Rebate u/s 87A for Individuals AY 2024-25
Discover about the Income Tax Rebate available to Resident Individuals in respect of AY 2024-25 u/s 87A of the Income Tax Act, 1961.
Alternate Minimum Tax (AMT) for Non-corporate Taxpayers (AY 2024-25)
Explore the concept of Alternate Minimum Tax (AMT) which ensures fair share of tax liability for non-corporate taxpayers availing deductions and exemptions.
Section 80D: Medical/ Health Insurance Premium (Mediclaim Deduction)
Section 80D of the Income Tax Act of 1961 provides for a deduction to Individuals and HUFs in respect of payment of medical or health insurance premium for family, …
CBIC Clarification on Scope of Principal-Agent Relationship-vis-a-vis Schedule I of CGST Act
CBIC has issued GST Circular 57/31/2018 to clarify various issues relating to ‘Scope of Principal-agent relationship’ vis-a-vis ‘Schedule I of the CGST Act, 2017.
Section 80TTB: Deduction for Interest on Deposits (Senior Citizens)
Section 80TTB has been inserted by the Finance Act, 2018 to provide for a higher deduction of upto Rs 50,000 in respect of interest income, in the case of …
Section 80TTA: Deduction for Interest on Savings Deposits
Section 80TTA of Income Tax Act, 1961 provides for a deduction of upto Rs 10,000 from the interest income earned from savings deposits with a Bank or Post Office, …