S.O. 1905(E) – In exercise of the powers conferred by sub-section (1) and sub-section (2) of section...
Section 10(10A) of the Income Tax Act in India relates to the tax treatment of payments made in commutation...
1. Gratuity
Gratuity is a payment made by the employer to an employee in appreciation of the past services...
A Post Office Savings Account is one of the most popular and accessible savings accounts in India.
The...
Under the Income Tax Act, 1961, if a taxpayer or the Income Tax Department is dissatisfied with an order...
Section 10(4F) specifically applies to income earned by a non-resident from a unit of an International...
Section 293B of the Income Tax Act, 1961, empowers the Central Board of Direct Taxes (CBDT) to condone...
Section 10(24) of the Income Tax Act provides a tax exemption for certain types of income earned by registered...
1. Computation of Income under the head Income from “Salaries”
The first head of income is...
To promote digital transactions, the Income Tax Act mandates certain businesses to compulsorily accept...
The provisions relating to Direct Taxes for the Financial Year 2025-26 in India include several key changes...
1. Unexplained Cash Credits [Section 68]
Where any sum is found credited in the books of an assessee,...
Developmental financing institutions play a crucial role in promoting economic growth and development...
In India, hosting international sporting events is not only a matter of pride but also has significant...
(1) When an asset is acquired by the government through the process of compulsory acquisition,...
1. Applicability
Section 56(2)(ii) covers rental income from:
Machinery
Plant(equipment, tools, vehicles)
Furniture
when not...
Section 194LBC of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on income distributed...
Applicable to: Individuals & HUFs (Non-Senior Citizens)
This section provides tax relief on interest...
1. Provision inserted under Clause ( c ) of explanation to Section 10(4D) applicable w.e.f. 2022-23
As...
Section 115BAB of the Income Tax Act, 1961, was introduced by the Finance Act, 2019, to provide a lower...