1. Investment in Sukanya Samriddhi Yojana for Tax Saving for AY 2022-23 & 2023-24
Sukanya Samriddhi...
Section 10(12B) of the Income Tax Act, 1961 provides tax exemption to partial withdrawals from the National...
SCSS is a savings product available for senior citizens aged 60 or above. On the date of opening an SCSS...
Under Section 139(4B) of the Income Tax Act, 1961, political parties in India are mandatorily required to...
With the increasing concerns about climate change and the need to reduce pollution, there has been a...
Exemption of amount received by an individual as Loan under Reverse Mortgage Scheme [Section 10(43)]
Reverse mortgage is a financial scheme that allows senior citizens to convert their home equity into...
Understanding of Section 56(2)(i)
In India, the taxation of dividends is governed by the provisions of...
Agricultural income holds a special position in India’s taxation system, with specific exemptions...
Section 244A of the Income Tax Act, 1961, governs the interest paid by the Income Tax Department to taxpayers...
Section 28 of the Income Tax Act, 1961, is a key provision that defines the types of income chargeable...
Section 115JB(2) mandates that the Statement of Profit & Loss (P&L) for MAT computation must...
1. Key Features of Section 69A
Objective: Targets unexplained money, jewellery, or assetsfound in possession...
Arrears of salary refer to payments received by an employee for work done in previous financial years...
Section 54GA of the Income Tax Act provides an exemption on capital gains arising from the transfer of...
Here’s a detailed analysis of Section 139AA of the Income Tax Act, 1961, which mandates the quoting and...
Section 169 of the Finance Act, 2016 (Chapter VIII) governs the rectification of mistakes in the context...
1. Overview
Introduced: Finance Act, 2004.
Objective: Ensure tax compliance on income from leases/licenses...
Section 143(3) deals with the scrutiny assessment process in Indian income tax law. This assessment is...
Understanding Section 10(7)
Section 10(7) provides a complete tax exemption for:
Allowances
Perquisites
paid outside...
These sections govern how notices, summons, orders, and other communications must be served by the Income...