The Finance Act 2021 has introduced two new sections in the Income Tax Act, viz., Section 206AB & Section 206CCA.
Until 48th GST Council Meeting, an unregistered dealer (buyer of flat) could claim refund of GST paid upon cancellation of such flat only from builder that too within the time limit where the builder could issue a credit note to such buyer.
A Goods Transport Agency (GTA) means any person who is engaged in the business of providing services with respect to transportation of goods by road.
All the income earned through winnings from lottery, crossword puzzle, gambling, betting, horse racing and any similar nature were taxed under section 194B of the Income Tax Act, where the payer of such winnings would require to deduct TDS at 30% if such winnings exceed Rs 10,000/-
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Have you been thinking of buying an electric vehicle lately? In addition to compensate the rising fuel prices, purchasing an electric vehicle shall also give you a tax benefit under income tax.