Being a Member of Parliament (MP) or a Member of Legislative Assembly (MLA) is a position of great responsibility....
Pensions are fixed sums of money that individuals receive at regular intervals after retirement. They...
Section 10(44) of the Income Tax Act, 1961 provides for exemption from income tax in India in respect...
Ministry of Finance
Posted On: 22 JAN 2025 8:09PM by PIB Delh
CBDT notifies amendments in Income-tax...
S.O. 1905(E) – In exercise of the powers conferred by sub-section (1) and sub-section (2) of section...
Purpose:
This section provides a full tax exemption on income earned by approved news agencies that operate...
1. Applicability of Section 56(2)(ic)
This provision covers any sum of money received by an employer from...
Section 15 of the Income Tax Act, 1961 defines what constitutes taxable salary income and specifies the...
Section 10(25) of the Income Tax Act provides tax exemptions for income earned by various retirement-related...
1. Understanding of Section 80-IAC
The Income Tax Act, 1961 provides various deductions for taxpayers...
Section 194BB of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on winnings from horse...
Understanding of Section 56(2)(i)
In India, the taxation of dividends is governed by the provisions of...
1. Individual and HUF Applicants who are Citizens of India and Located Within and Outside India at the...
Here’s a detailed explanation of the penalty for failure to furnish the Equalisation Levy (EL)...
(A) In the case of every Individual or Hindu Undivided Family (HUF)
(A1) If the individual or HUF...
Section 194P of the Income Tax Act, 1961, provides a TDS exemption for senior citizens (aged 75+) with...
Under Section 23(2) to (4) of the Income Tax Act, 1961, a self-occupied residential property (SOP) is...
Section 115BAA of the Income Tax Act, 1961 provides a concessional tax rate of 22% (plus surcharge &...
These sections govern how notices, summons, orders, and other communications must be served by the Income...
1. Documents Required to Apply for NRI PAN Card
As a Non-Resident Indian (NRI), obtaining a Permanent...