When it comes to calculating taxes on winnings from lotteries, crossword puzzles, horse races, card games, or other forms of gambling, the Income Tax Act provides a special provision—Section 115BB.…
The introduction of Section 115BAE in the Income Tax Act, effective from April 1, 2024, marks a significant development for newly established manufacturing co-operative societies in India. This section aims…
Section 115BAD of the Income Tax Act, introduced by the Finance Act, 2020, offers a concessional tax regime for eligible resident co-operative societies in India. This provision allows them to…
The introduction of Section 115BAC in the Income Tax Act has provided taxpayers with an alternative tax regime featuring lower income tax rates for individual taxpayers and Hindu Undivided Families…
In the realm of Indian taxation, the government continually strives to widen and deepen the tax net, ensuring all avenues of income are effectively taxed. One such recent initiative is…
The Securities Transaction Tax (STT) is a crucial levy on transactions involving specified securities in India, introduced via the Finance (No.2) Act, 2004. This tax is collected by recognized stock…