Category: Income Tax
Explore Section 2(18) of the Income Tax Act, 1961, defining companies with substantial public interest. Learn criteria for tax benefits, including government ownership and shareholding patterns.
Section 2(26) of Income Tax Act defines 'Indian company' to include entities registered under Companies Act, 1956 (now 2013), statutory corporations, specified regional bodies with principal office in India, …
Explore the definition of "public sector company" under Section 2(36A) of the Income Tax Act, 1961, including ties to the Companies Act, 2013. Understand government ownership thresholds, subsidiaries, and …
Learn the difference between domestic and foreign companies under the Income Tax Act, 1961. Understand definitions, tax rates, and compliance rules for Indian and foreign entities. Updated with Finance …
Learn what a recognised provident fund means under Section 2(38) of the Income-tax Act, 1961. Understand tax deductions under Section 80C, exemptions on interest and withdrawals, and compliance rules …
ICAI has released the Handbook on Taxation of Private Trust of Income-tax Act, 1961 (February 2023 Edition) for assisting members in making necessary compliance. Learn more!
CBDT waives interest on tax demands from incorrect 87A rebate under new tax regime. Pay by 31 Dec 2025 to avoid interest under Section 220(2).
Learn about the new ITR-2 Excel utility (v1.11) for AY 2025-26. Designed for individuals/HUFs without business income, it now supports updated returns (Sec 139(8A)). File correctly.
CBDT Circular 4/2025 provides crucial FAQs/Clarifications on the revised guidelines (Oct 2024) for compounding offences under the Income Tax Act, 1961.
Discover how the 2025 budget reforms simplify transfer pricing with block assessments and expanded Safe Harbour Rules for reduced compliance burdens.