Here’s a detailed explanation of Section 173 (Penalty Not to Be Imposed in Certain Cases) under the Equalisation...
Section 15 of the Income Tax Act, 1961 defines what constitutes taxable salary income and specifies the...
1. Perquisites [(Section 17(2)]-Definition
Section 17(2) of the Income-tax Act, 1961 gives an inclusive...
Short Answer: No, the Annual Value (AV) or Net Annual Value (NAV) of a property cannot be negative under...
1. Overview of Section 58
Section 58 specifies expenses that cannot be deducted while computing taxable...
Here we discuss all the Provisions towards Computation of Capital Gain in certain Special Cases and the...
Section 43CB of the Income Tax Act, 1961 standardizes the computation of income from construction contracts and service...
Here’s a structured table summarizing the penal provisions related to Tax Collected at Source (TCS) under Sections...
1. Introduction to Clubbing of Income
The Indian Income Tax Act, 1961, has provisions that prevent taxpayers...
Unit Linked Insurance Plans (ULIPs) are a unique financial product that offers the dual benefits of life...
Section 10(2A) of the Income Tax Act, 1961 in India exempts a partner’s share in the total income...
1. Basic Framework
Companies are taxed on their total incomecomputed under the Income Tax Act, 1961.
Tax...
Section 139(1) of the Income Tax Act, 1961, lays down the rules for who must file an Income Tax Return...
1. Clarification in respect of Disallowance under Section 14A in absence of any Exempt Income during...
Section 139D of the Income Tax Act, 1961, mandates electronic filing (e-filing) of income tax returns...
Here’s a detailed explanation of the penalty for failure to furnish the Equalisation Levy (EL)...
Section 10(13) of the Income Tax Act, 1961 provides tax exemptions on payments received from an approved...
The residential status of a company is a crucial factor in determining its tax liability in India. Section...
Section 13 of the Income Tax Act, 1961 specifies situations where the tax exemptions under Section 11...
Section 140 of the Income Tax Act, 1961 specifies who must verify the return of income and the authorized...