Section 72A of the Income Tax Act, 1961, provides exceptional relief for companies undergoing restructuring...
The Income Tax Act, 1961, provides a special procedure for assessments in search cases to ensure thorough...
When it comes to investing in mutual funds, it is important to understand the various tax implications....
Learn Who Qualifies As An Assessee In Income Tax Under Section 2(7) Of The Income Tax Act. Understand...
I start with GST. It has decreased tax incidence on the common man; reduced compliance burden and logistics...
1. Basic Framework
Companies are taxed on their total incomecomputed under the Income Tax Act, 1961.
Tax...
1. Computation of Income under the head Income from “Salaries”
The first head of income is...
Section 220(2) of the Income Tax Act, 1961, imposes interest @ 1% per month on unpaid tax demands if...
Here we describe all the Provisions towards Calculation of Tax on Short-term Capital Gains under Section...
Understanding of Section 54
When an individual sells a residential house property, they are liable to...
Overview
Section 157A of the Income Tax Act, 1961, was introduced to empower the Central Government to...
Section 59 deals with deemed income that becomes taxable under the head “Income from Other Sources” when...
Is one of the most well-known investment schemes offered by the India Post. While the scheme is open...
Section 139B of the Income Tax Act, 1961, allows taxpayers to file their income tax returns through authorized...
Notification No. 07/2025 [F. No. 203/20/2024/ITA-II] Dated 14th January, 2025
MINISTRY OF FINANCE
(Department...
1. Understanding of Section 80-IBA
Section 80-IBA of the Income Tax Act, 1961, provides a deduction...
Section 80DD of the Income Tax Act in India provides a deduction for individuals or Hindu Undivided Families...
Long-term capital gain arising on the transfer of any capital asset being land or building or both is...
(1) Unit Linked Insurance Policies (ULIPs) have gained popularity as a dual investment-cum-insurance...
When a property is partly self-occupied (SOP) and partly let out (LOP), the Income Tax Act treats it...