Section 268(1) Income Tax Notice (Inquiry before assessment): Income Tax Act 2025 Section 268(1) Income Tax Notice (Inquiry before assessment): Income Tax Act 2025 Under the Income-tax Act, 2025, a Section 268(1) Notice represents the formal “Inquiry before assessment” process. It is a powerful tool used by the Assessing Officer (AO) to gather necessary information,… Read More »
Income Tax Notice Section 281 Income Tax Act 2025 Income Tax Notice Section 281 Income Tax Act 2025 Under the Income-tax Act, 2025, Section 281 lays down a mandatory “show-cause” procedure that the Assessing Officer (AO) must follow before they can issue a formal notice (under Section 280) to assess or reassess income that… Read More »
Specified Entity referred to in Section 263(9)(c) of income tax Act 2025 Specified Entity referred to in Section 263(9)(c) of income tax Act 2025 Under Section 263(9)(c) of the Income-tax Act, 2025, a “specified entity” means any of the following fourteen categories of organizations and funds: A research association referred to in Schedule III (Table:… Read More »
Summon under Income tax act 2025 Key Points Summon under Income tax act 2025 Key Points Under the Income-tax Act, 2025, the provisions regarding the issuance of summons, the powers of tax authorities, and the consequences of non-compliance are comprehensively outlined. Here is everything you need to know: 1. Power to Issue Summons The core… Read More »
Late Fees under section 427 Income Tax Act 2025 Late Fees under section 427 Income Tax Act 2025 Under Section 427 of the Income-tax Act, 2025, a late fee is levied when a person fails to file or deliver a Tax Deducted at Source (TDS) or Tax Collected at Source (TCS) statement within the prescribed… Read More »
Tax Rebate u/s 156 Income Tax Act 2025 Key Points Tax Rebate u/s 156 Income Tax Act 2025 Key Points Under Section 156 of the Income-tax Act, 2025, resident individuals are provided significant relief from their tax liability through an income-tax rebate. Key Points about tax rebate u/s 156 Here are the key points regarding… Read More »
Section 392 Income Tax Act 2025 Section 392 Income Tax Act 2025 B.-Deduction and collection at source Salary and accumulated balance due to an employee. 392. (1) Any person responsible for paying any income chargeable under the head “Salaries” shall deduct income-tax on the amount payable and this deduction shall be made at the time of… Read More »
Who is Liable to Deduct Tax Under Income Tax Act 2025 Under the new Income-tax Act, 2025, the government has streamlined the rules regarding who must deduct Tax Deducted at Source (TDS). While Companies and Partnership Firms are almost always required to deduct TDS, the rules for Individuals and Hindu Undivided Families (HUFs) depend entirely… Read More »
What is TDS? Complete Guide on Who Must Deduct Tax Under Income Tax Act 2025 Under the Income-tax Act, 2025, the government has consolidated and renumbered the provisions for Tax Deducted at Source (TDS). While the core concept remains the same—collecting tax at the very source of income generation—the categories of people liable to deduct… Read More »
New Changes For TDS on Rent in Income Tax Act 2025 Under the new tax framework, the provisions for TDS on Rent have been consolidated under Section 393(1). The rules differ depending on whether the tenant is an ordinary individual or a business entity. 1.TDS on Rent ; For Individuals & HUFs (Non-Business Cases) This… Read More »