Section 10(2A) of the Income Tax Act, 1961 in India exempts a partner’s share in the total income...
Section 190 of the Income Tax Act, 1961, governs the provisions related to Tax Deduction at Source (TDS),...
1. Overview
Under Section 210(1) of the Income Tax Act, 1961, taxpayers liable for advance tax must voluntarily...
The Income Tax Appellate Tribunal (ITAT) is the second appellate authority under the Income Tax Act,...
1. Scope of Total Income / Incidence of Tax [Section 5]
Total income of an assessee cannot be computed...
The National Savings Certificate (NSC) is a fixed Income Investment scheme that you can open with any...
Basic Rule
Under Section 64(1A), all income of a minor child (below 18 years) is automatically clubbed with...
Section 10(11) of the Income Tax Act provides tax exemption on withdrawals from a Statutory Provident...
Section 10(23AAA) of the Income Tax Act provides an exemption for income received by any person on behalf...
Here’s a detailed breakdown of incomes exempt under Section 11 of the Income Tax Act, 1961, for charitable...
Gratuity is a payment made by the employer to an employee in appreciation of the past services rendered...
Section 194E of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payments made to non-resident...
Chapter XIV-B (Sections 158BA, 158BB, 158BE):
Replaces “total income” assessment with “undisclosed...
Notwithstanding anything contained in sections 30 to 38, the following amounts shall not be deducted...
National Pension System (NPS) is a retirement benefit Scheme introduced by the Government of India to...
Section 80C of the Income Tax Act allows individuals to claim deductions on certain investments and expenses,...
Note:
(a) “Basic Excise Duty” means the excise duty set forth in the Fourth Schedule to the...
Income chargeable under the head “Income from house property” shall be computed after making...
Trade unions play a crucial role in protecting the rights and interests of workers. They negotiate with...
1. Legal Requirement
Section 206C(5): Mandates that every seller/collectormust issue a TCS certificate...