Section 80GG: Deduction in respect of Rent Paid
Section 80GG of the Income Tax Act allows individuals to claim deductions for the rent paid when they...
Deemed Profits Chargeable to Tax
“Deemed profits” are amounts that aren’t traditional business income, but are still taxed as business...
CBDT clarifies on media reports claiming special drive to reopen cases with reference to HRA claims - Press Release by PIB
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes ****** New...
Section 9: Incomes which Accrue or Arise in India or are Deemed to Accrue or Arise in India
Section 9 of the Income Tax Act, 1961 is an important provision that deals with the taxation of income...
Section 10(37)-Capital Gain Exemption on Transfer of Agricultural Land
Section 10(37) of the Income Tax Act provides a capital gains exemption for individuals or Hindu Undivided...
Any sum received under a Life Insurance Policy [Section 10(10D)]
Section 10(10D) of the Income Tax Act, 1961, provides tax exemption on the sum received under a life...
Section 80QQB: Deduction for Royalty Income of Authors
Applicable to: Individual authors/researchers (Indian residents) This section provides tax relief on royalty...
Who Should Claim Refund Under the Income Tax Act?
Under the Income Tax Act, 1961, the right to claim a refund depends on who has paid the excess tax and...
Section 10(15A)- Tax Exemption on Lease Payments for Aircraft
Purpose: This section provides a tax exemption on payments made by an Indian company to a foreign entity...
Payment in Commutation of Pension received by the Employees [Section 10(10A)]
Section 10(10A) of the Income Tax Act in India relates to the tax treatment of payments made in commutation...
Section 44BBD Presumptive Tax for Non-Residents in Electronics Manufacturing
Discover Section 44BBD Presumptive Tax — India’s New Presumptive Tax Scheme for Non-Residents Serving...
Inverted Duty Structure (IDS) under GST
The Inverted Duty Structure (IDS) under the Goods and Services Tax (GST) regime is a situation where...
Income of a Notified Institution established for Financing Infrastructure and Development to be Exempt [Section 10(48D)]
A Notified Institution refers to any entity or body corporate established by the Central Government or...
Section 80DDB: Deduction for Medical Treatment of Specified Critical Illnesses
Applicable to: Individuals & HUFs (for self or dependent relatives) This section provides tax relief...
Taxation and Assessment of Companies under the Income Tax Act, 1961
The Income Tax Act, 1961 governs the taxation of companies in India, outlining rules for computation,...
Section 206C(1G): TCS on Foreign Remittances (LRS) & Overseas Tour Packages
Section 206C(1G) of the Income Tax Act, 1961 mandates Tax Collected at Source (TCS) on: Outbound remittancesunder...
Section 80EEB: Deduction in respect of Purchase of Electric Vehicle
With the increasing concerns about climate change and the need to reduce pollution, there has been a...
Understanding the Concept of Casual Taxable Person (CTP) under GST
Goods and Services Tax (GST) in India is a comprehensive, multi-stage, destination-based tax that is...
Deduction in Computing Total Income Under Chapter VI-A (Sections 80A to 80U)
Chapter VI-A of the Income Tax Act, 1961, provides various deductions from Gross Total Income (GTI) to...
Advertisement to Political Parties [Section 37(2B)] – Applicability to "Profits and Gains of Business or Profession"
1. Key Provision Section 37(2B)of the Income Tax Act, 1961, disallows any deduction for expenses incurred...
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