Section 73 of the Income Tax Act, 1961, governs the treatment of speculation business losses, imposing...
1. Overview
Section 115BA provides a concessional tax rate of 22% (plus surcharge & cess) for new...
Here’s a comprehensive analysis of Section 56(2)(viib) of the Income Tax Act, 1961, which taxes share...
Employee Stock Option Plans (ESOPs) are popular mechanisms through which companies attract, retain, and...
Section 64 of the Income Tax Act, 1961, mandates the clubbing of certain incomes earned by family members...
Section 115BAB of the Income Tax Act, 1961, was introduced by the Finance Act, 2019, to provide a lower...
1. Applicability of Section 56(2)(ic)
This provision covers any sum of money received by an employer from...
Section 145 of the Income Tax Act, 1961 governs the method of accounting for computing taxable income...
Section 10(13A) of the Income Tax Act, 1961 provides an exemption for the House Rent Allowance (HRA) received...
1. Legal Basis and Purpose
Section 203Amandates obtaining a 10-digit alphanumeric TAN for entities deducting/collecting...
A format to compute the capital gain is given below:
Computation of Short-term Capital Gains
Full...
Here’s a structured table summarizing the extension of time limits for filing Updated Tax Returns (ITR-U)...
While the income from other sources is taxable, there are certain amounts that are not deductible while...
Here’s a detailed explanation of Section 170 (Interest on Delayed Payment of Equalisation Levy) under...
Section 10(34A) of the Income Tax Act provides a tax exemption for shareholders on income received from...
1. What is Section 282A?
Section 282A mandates proper authentication of all income tax notices, orders,...
Section 36 of the Income Tax Act, 1961 lists specific deductions allowed against business income, in...
In the era of GST, the removal of check posts nationwide aimed to streamline the movement of goods within...
Overview of Section 112A
Section 112A of the Income Tax Act, 1961 governs the taxation of long-term capital...
Section 194M of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on certain payments made...