When a Transfer is Considered Revocable [Section 63]
Section 63 defines what constitutes a revocable transfer for the purposes of Section 61. It clarifies...
[Section 208]: Conditions for Liability to Pay Advance Tax
1. Basic Condition A taxpayer is liable to pay advance tax if: Estimated tax liability(after deducting...
Income Tax (Third Amendment) Rules, 2025 – 13/2025
Notification No. 13/2025 [F. No.370142/9/2024-TPL] Dated 07th February, 2025 MINISTRY OF FINANCE (Department...
Exemption in respect of income of a foreign company on account of storage of Crude Oil in a facility in India and sale of Crude Oil therefrom [Section 10(48A) & 10(48B)]
Section 10(48A) of the Income Tax Act provides an exemption in respect of income earned by a foreign...
Perquisites [(Section 17(2)]- Income under the head Salaries
1.  Perquisites [(Section 17(2)]-Definition Section 17(2) of the Income-tax Act, 1961 gives an inclusive...
Highlights of The Union Budget 2024-25 - Press Release by PIB
Ministry of Finance HIGHLIGHTS OF THE UNION BUDGET 2024-25 Posted On: 23 JUL 2024 1:17PM by PIB Delhi The...
Section 10(23FF)-Capital Gain Exemption on Transfer of Share of a Company Resident in India by Non-Resident
Section 10(23FF) of the Income Tax Act provides a targeted capital gains exemption for non-residents...
Income in Nature of a Non-Monetary Perquisites Provided by Employer [Section 10(10CC)]
Section 10(10CC) of the Income Tax Act, 1961, deals with the tax treatment of non-monetary perquisites...
Amendments relating to Disallowance of the Expenditure in Respect of Exempt Income – by The Finance Bill 2022
1.  Clarification in respect of Disallowance under Section 14A in absence of any Exempt Income during...
Exemption of the Family Pension received by the family members of Armed Forces (including para-military forces) Personnel killed in action in certain circumstances [Section 10(19)]
Section 10(19) of the Income Tax Act provides an exemption for the family pension received by the family...
Section 80DDB: Deduction for Medical Treatment of Specified Critical Illnesses
Applicable to: Individuals & HUFs (for self or dependent relatives) This section provides tax relief...
Search, Seizure & Survey and Special Procedure for Assessment of Search Cases [Sections 132, 132A, 132B, 133A, 153A to 153D)
The Income Tax Act, 1961 contains provisions related to search, seizure, survey, and special procedures...
Section 67 of CGST Act 2017: Power of Inspection, Search and Seizure to ensure compliance with GST laws and prevent Tax Evasion
In the realm of tax enforcement, the power of inspection, search, and seizure plays a pivotal role in...
Income of a member of Scheduled Tribe residing in certain Specified Areas [Section 10(26)]
Section 10(26) of the Income Tax Act provides special provisions for the income of a member of a Scheduled...
120 FAQs on Income Tax Bill 2025-Flip e-Book (PDF) for Tax Payers
TDS on Rent Payments (Section-194I) of Income Tax Act, 1961
Section 194-I of the Income Tax Act, 1961, a crucial piece of legislation in India, governs the taxation...
Social Welfare Surcharge (SWS) - Amendment to Notification No. 11/2018 – Customs, Dated 02.02.2018 (W.E.F. 24.07.2024)
Following goods are being exempted from levy of Social Welfare Surcharge S. No. Description 1. Natural...
Section 206C: Tax Collected at Source (TCS) on Sale of Specified Goods like Alcoholic Liquor, Forest Produce, Scrap, Minerals, And Motor Vehicles
Section 206C of the Income Tax Act, 1961 mandates sellers to collect tax at source (TCS) from buyers...
Clubbing of Income from Self-Acquired Property Converted to HUF Property [Section 64(2)]
Key Rule When an individual converts their self-acquired property into HUF (Joint Family) property, any...
Section 15: Incomes Chargeable to Income-Tax Under the Head "Salaries"
Section 15 of the Income Tax Act, 1961 defines what constitutes taxable salary income and specifies the...
1 2 3 46
Scroll to Top