Section 26 of the Income Tax Act governs the taxation of income from properties jointly owned by two...
Section 10(10C) of the Income Tax Act provides tax exemption on compensation received by an employee...
Yes, a loss can arise under “Income from House Property” due to high interest on home loans or low...
1. Overview
Under Section 210(1) of the Income Tax Act, 1961, taxpayers liable for advance tax must voluntarily...
Section 54 of the Income Tax Act, 1961 provides tax exemption on long-term capital gains (LTCG) arising...
Here’s a structured table summarizing the penal provisions related to Tax Collected at Source (TCS) under Sections...
Section 10(4G) of the Income Tax Act, 1961 in India provides an exemption for certain income earned by...
Applicable to: Indian Resident Individuals (Inventors/Patent Holders)
This section provides tax relief...
Ministry of Finance
CAPITAL GAINS TAXATION SIMPLIFIED AND RATIONALISED
SHORT TERM GAINS TO ATTRACT A...
Purpose:
This section provides a full tax exemption on any scholarship granted to meet educational expenses,...
1. Overview
Applicability: Mandates sellersto collect Tax at Source (TCS) on receipt of sale consideration from...
Applicable to: Individual taxpayers buying their first home
This section provides an additional tax benefit for...
Section 10(10D) of the Income Tax Act, 1961, provides tax exemption on the sum received under a life...
Here’s a detailed explanation of Section 269SS of the Income Tax Act, 1961, which governs the mode of...
Section 115JH of the Income Tax Act, 1961, provides transitional and computational rules for foreign...
Understanding of Section 54
When an individual sells a residential house property, they are liable to...
Section 10(6D) provides a tax exemption to non-residents (other than foreign companies) on income received...
Here’s a detailed explanation of Section 78(2) regarding carry forward and set-off of losses in...
Under the Income Tax Act, individuals and Hindu Undivided Families (HUFs) have the option to be taxed...
Here’s a detailed explanation of Penalty under Section 271AAC of the Income Tax Act, 1961, which applies...