Section 17(5) of GST Act: Blocked Input Tax Credit (ITC) Explained with Examples
What Is Section 17(5) of the GST Act? Section 17(5) is a special part of GST rules that tells…
Section 194D of Income Tax Act: TDS on Insurance Commission – Applicability, Rates, and Exemptions
What Is Section 194D of the Income Tax Act? Section 194D is a rule that makes the person…
Section 206AA of Income Tax Act: Higher TDS Without PAN
The Indian tax system runs on the principle of “Pay as You Earn”, where certain payments like salary,…
Section 43B(h) of the Income Tax Act: Timely Payments to MSMEs and Its Tax Impact
Section 43B is a rule in India’s tax law that says some expenses only become tax-deductible when they…
Section 43B Explained: Payment-Based Deductions in Income Tax
Section 43B was introduced in the Income Tax Act, 1961, to make sure businesses and taxpayers claim certain…
Section 43A of Income Tax Act: Adjustment for Foreign Exchange Fluctuations
Section 43A ensures businesses adjust the cost of things (like machinery) bought from abroad if the exchange rate…
Section 40A(3) of Income Tax Act: Cash Payment Limit, Exceptions, and Disallowance
Section 40A(3) is a rule in India’s tax law that says businesses or professionals can’t claim business expense…
Section 37 of Income Tax Act: General Deduction for Business & Professional Expenses
Section 37 of the Income Tax Act Businesses and professionals often spend money to earn money—on things like…
Section 35AD of Income Tax Act: Deduction for Capital Expenditure in Specified Businesses
Introduction to Section 35AD Section 35AD lets businesses deduct all money spent on special assets (not land) in…
Section 35: Tax Benefits for Scientific Research & Development (R&D)
What is Section 35? Section 35 is a rule in India’s tax law that lets people or companies…