Section 10(10CC) of the Income Tax Act, 1961, deals with the tax treatment of non-monetary perquisites...
Section 190 of the Income Tax Act, 1961, governs the provisions related to Tax Deduction at Source (TDS),...
Note:
(a) “Basic Excise Duty” means the excise duty set forth in the Fourth Schedule to the...
Section 73 of the Income Tax Act, 1961, governs the treatment of speculation business losses, imposing...
The “Full Value of Consideration” (FVC) is the total amount received or receivable when a...
Applicable to: Individuals & HUFs
This section provides tax benefits for health-related expenditures,...
Section 10(5) of the Income Tax Act, 1961, provides an exemption for Leave Travel Concession (LTC) or Leave...
Capital assets are classified into different categories under the Income Tax Act, 1961, each with unique...
Understanding of Section 80P
Section 80P of the Income Tax Act, 1961 provides a deduction in respect...
Under the Employees’ Provident Fund (EPF) scheme, employers are required to contribute to a Recognised...
Under Section 23(2) to (4) of the Income Tax Act, 1961, a self-occupied residential property (SOP) is...
Section 194N of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on cash withdrawals exceeding...
Section 234F of the Income Tax Act, 1961 imposes a late filing fee if an assessee fails to file their...
Section 10(10C) of the Income Tax Act provides an exemption to employees who receive a certain amount...
Section 56(1) serves as the residual head of income, capturing all taxable income that does not fall...
Section 10(25A) of the Income Tax Act provides a complete tax exemption for any income of the Employees’...
This article delves into the legal framework surrounding cash seizure, the grounds on which authorities...
Concept:
Section 61states that if an asset is transferred in a revocable manner, any income from that...
[Section 46A] : Capital Gains on Purchase by Company of its Own Shares or Other Specified Securities
(1) Capital gains tax is an important aspect of the Indian Income Tax Act, 1961. Section 46A of...
Cases or situations of Tax Relief under section Section 89/Rule 21A when Salary is Paid in Arrears or...