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Income Tax

Practical guides to returns, tax audit, assessments and notices.

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Income Tax

485 articles
Section 89 Relief on Salary Arrears, Form 10E Filing, Table A Tax Differential & ITR Rules

Section 89 Relief on Salary Arrears & Mandatory Form 10E: Table A Calculation, Slabs & Defense Guide

Exhaustive practitioner guide to claiming tax relief under Section 89 for salary arrears, gratuity, and commuted pension under Rule 21A. Details mandatory online Form 10E filing on the e-Filing portal before ITR submission, Table A mathematical tax differential computation across historical financial years, CPC Section 143(1) disallowance rectification, surcharge and cess interplay, and audit-proof salary packaging workflows with assureTax and assureITR.

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HUF Partition, Section 171 Partial vs Full Partition, Supreme Court Rulings & Tax Guide

Partial vs Full Partition of HUF: Supreme Court Rulings, Stamp Duty, and Income Tax Recognition Procedures

Authoritative legal and tax masterclass on the partition of Hindu Undivided Family (HUF) property under Hindu Law and Section 171 of the Income-tax Act, 1961. Details the statutory derecognition of Partial Partition under Section 171(9), mechanics of Full Partition via registered deed vs family settlement, Supreme Court jurisprudence (Kalloomal, Vineeta Sharma), stamp duty variations across states, division by metes and bounds, and Section 171 assessment procedures with assureTax.

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Section 194S Crypto TDS, 1% Withholding, ₹50,000 / ₹10,000 Limits, P2P Trades, Form 26QE & Circulars

Section 194S TDS on Virtual Digital Assets (Crypto): Limits, Exchange Withholding & Form 26QE Guide

Exhaustive practitioner guide to Section 194S TDS on transfer of Virtual Digital Assets (VDAs) and cryptocurrencies under the Income-tax Act, 1961. Explains the 1% withholding rate, ₹50,000 threshold for specified persons vs ₹10,000 for other buyers, peer-to-peer (P2P) transfers, crypto-to-crypto barter withholding mechanics, Indian vs foreign exchange compliance, Challan-cum-statement Form 26QE, Form 16E issuance, and reporting with assureTax, assureITR, and assureNotice.

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Section 94B Interest Deduction Cap, 30% EBITDA Limit, ₹1 Cr Threshold, Form 3CEB & Carry Forward

Section 94B Interest Deduction Limitation: 30% EBITDA Cap, Associated Enterprises & Form 3CEB Guide

Exhaustive practitioner guide to Section 94B thin capitalization rules under the Income-tax Act, 1961. Explains the 30% EBITDA limitation on interest paid to non-resident Associated Enterprises (AEs), ₹1 Crore threshold, deemed debt under third-party bank guarantees, banking/insurance exemptions, 8-year carry-forward mechanics, transfer pricing reconciliation in Form 3CEB, and optimization with assureTax, assureTP, and assureNotice.

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Section 40(b) Partner Remuneration, 12% Interest on Capital, Partnership Deed, Book Profit

Partner Remuneration & Interest Calculation under Section 40(b): Drafting Partnership Deeds to Minimize Tax Litigation

A definitive technical guide to partner remuneration and interest on capital under Section 40(b) of the Income-tax Act, 1961. Explains Book Profit computation, the ₹3 Lakh/₹30 Lakh slab limits, 12% simple interest cap, drafting tax-proof partnership clauses, and automated financial modeling in assureFinancials and assureTax.

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Section 68 Cash Credits, Share Capital & Unsecured Loans Defense, Section 115BBE 78% Tax

Defending Section 68 Unexplained Cash Credits: Establishing Identity, Creditworthiness, and Genuineness of Share Capital & Loans

An exhaustive procedural and litigation guide for defending corporate and non-corporate taxpayers against Section 68 unexplained cash credit additions. Covers the triple test (Identity, Creditworthiness, Genuineness), the higher burden for share application money, Section 115BBE 78% penalty tax, ITAT/High Court precedents, and defense workflows in assureNotice.

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Section 2(22)(e) Deemed Dividend, Loans to Shareholders, Accumulated Profits, Commercial Advances

Deemed Dividend under Section 2(22)(e): How to Protect Legitimate Inter-Corporate Advances and Director Transactions

An exhaustive corporate tax defense guide on deemed dividends under Section 2(22)(e) of the Income-tax Act, 1961. Explains the 10% substantial interest trigger, accumulated profits calculation, trade advance vs loan distinctions, Supreme Court and High Court defenses (Ankitech, Creative Dyeing), and defense workflows in assureTax and assureNotice.

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HUF Tax Planning, Hindu Undivided Family Formation, Capital Gifts, Section 64 Clubbing, Karta

How to Form and Operate an HUF for Legitimate Tax Planning: Capital Gifts, Bank Accounts, and Section 64 Clubbing

A complete legal and tax planning guide to forming, capitalizing, and operating a Hindu Undivided Family (HUF) under the Income-tax Act, 1961. Explains creation rituals, drafting the HUF Deed, opening bank accounts, navigating Section 64(2) clubbing provisions, receiving non-member capital gifts, coparcener rights, and tax filing workflows in assureITR.

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Section 148A Income Tax Reassessment, 148A(b) Inquiries, 3 vs 5-Year Limits, Sanctions & Writs Guide

Section 148A Reassessment Proceedings: Inquiries, Sanctions, 3 vs 5-Year Limits & Defense Guide

Exhaustive practitioner guide to Section 147, 148, and 148A reassessment proceedings under the post-Finance Act 2021/2024 regime. Details Section 148A(b) show-cause inquiries, 148A(d) orders, ₹50 Lakh escaped income threshold, 3-year vs 5-year limitation boundaries, Section 151 specified authority approvals, faceless reassessment protocols, Section 148 return filings, and High Court writ litigation with assureTax, assureITR, and assureNotice.

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Section 194Q TDS vs Section 206C(1H) TCS, ₹50 Lakh Limit, ₹10 Cr Turnover & Priority Rules

Section 194Q TDS vs. Section 206C(1H) TCS on Goods: ₹50 Lakh Limit, CBDT Rules & Interplay Guide

Exhaustive practitioner guide to Section 194Q TDS and Section 206C(1H) TCS on purchase and sale of goods. Explains the ₹10 Crore prior turnover threshold, ₹50 Lakh cumulative annual transaction limit, statutory priority of 194Q over 206C(1H), non-filer rates under Section 206AB/206CCA, advance adjustments, GST component inclusion/exclusion, and ERP automation with assureTax, assureITR, and assureNotice.

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Section 56(2)(x) Deemed Gift Income, Rule 11UA Share Valuation, Stamp Duty Variance & Exemptions

Section 56(2)(x) Deemed Income on Inadequate Consideration: Property, Shares & Valuation Guide

Exhaustive practitioner guide to Section 56(2)(x) of the Income-tax Act, 1961 on receipt of money, immovable property, and specified movable property for inadequate or nil consideration. Explains the ₹50,000 threshold, 10% stamp duty variance tolerance under third proviso, Rule 11UA fair market valuation of unquoted equity shares, genuine business transaction carve-outs, relative exemptions, and defense strategies with assureTax, assureITR, and assureNotice.

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