A Charitable and Religious Trust is a type of non-profit organization that is formed for the purpose...
Cases or situations of Tax Relief under section Section 89/Rule 21A when Salary is Paid in Arrears or...
Applicable to: Individuals & HUFs
This section provides tax relief for expenses incurred on the care...
An individual may either be a:
(a) Resident in India; or
(b) Deemed to be Resident In India...
Gratuity is a payment made by the employer to an employee in appreciation of the past services rendered...
Section 268 of the Income Tax Act, 1961 provides a relief mechanism for taxpayers and the tax department...
1. Overview
Introduced: Finance Act, 2004.
Objective: Ensure tax compliance on income from leases/licenses...
Here’s a detailed breakdown of Section 271AAD of the Income Tax Act, 1961, which imposes penalties for...
Section 10(23FF) of the Income Tax Act provides a targeted capital gains exemption for non-residents...
Understanding Section 10(7)
Section 10(7) provides a complete tax exemption for:
Allowances
Perquisites
paid outside...
For income to be taxed under the head “Income from House Property” (Sections 22-27 of the...
Tax Treatment of Partly Agricultural and Partly Non-Agricultural Income
Tax Treatment of on Composite...
Section 72 of the Income Tax Act, 1961, governs the carry forward and set-off of business losses, allowing...
Income referred to in Section 68, 69A, 69B, 69C and 69D which are undisclosed income and Investments...
Zero-coupon bonds, also known as deep discount bonds, are fixed-income securities that do not pay periodic...
Section 22 of the Income Tax Act, 1961, defines when and how income from house property becomes taxable.
1....
Section 197A of the Income Tax Act, 1961 provides specific situations where no Tax Deducted at Source...
Introduction:
Section 67 of the Central Goods and Services Tax (CGST) Act, 2017, deals with the power...
1. What is equalization levy (EL)?
This is a tax leviable on consideration received or receivable by...
1. Unexplained Cash Credits [Section 68]
Where any sum is found credited in the books of an assessee,...