The Income Tax Act provides multiple exemptions to reduce or eliminate capital gains tax liability if...
Applicable to: All taxpayers (Individuals, HUFs, Companies, etc.)
This section provides tax benefits...
Section 194J of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payments made for professional...
Section 234H of the Income Tax Act, 1961 imposes a fee for failure to intimate/link one’s Aadhaar...
Section 38 of the Income Tax Act, 1961 governs deductions for depreciation and other expenses related...
Here’s a detailed analysis of the taxability of interest on compensation or enhanced compensation under...
Under Explanation 1(iii) to Section 115JB(2), companies can deduct the lower of:
Brought forward losses(as...
In the following Cases, Instances of Agricultural and Non-Agricultural Incomes are described in details...
A recognized provident fund is a retirement savings scheme that is approved by the government. It is...
Understanding of Section 56(2)(i)
In India, the taxation of dividends is governed by the provisions of...
1. Provision by the employer of services of a Sweeper, a Gardener, a Watchman or Personal Attendant...
Section 234E of the Income Tax Act, 1961, imposes a late filing fee for delays in submitting TDS (Tax...
Section 115JB(2) mandates that the Statement of Profit & Loss (P&L) for MAT computation must...
Notification No. 09/2025 [F. No. 370142/18/2024-TPL] Dated 21th January, 2025
MINISTRY OF FINANCE
(Department...
Under the Income Tax Act, 1961, the Commissioner of Income Tax (Exemption) [CIT(E)] has the authority...
The residential status of an individual is crucial for determining tax liability in India. It classifies...
Unrealised rent refers to rental income that is due but not received from a tenant. The Income Tax Act,...
Section 54GA of the Income Tax Act provides an exemption on capital gains arising from the transfer of...
Under the Income Tax Act, there are certain provisions that govern the taxation of income earned by minors....
Unit Linked Insurance Plans (ULIPs) are a unique financial product that offers the dual benefits of life...