Section 139D of the Income Tax Act, 1961, mandates electronic filing (e-filing) of income tax returns...
Section 55(2) – Cost of Acquisition of Capital Asset for Computing Capital Gain
Cost of acquisition...
Here’s a detailed explanation of the Procedure for Imposing Penalty under Section 274 of the Income Tax...
Section 72A of the Income Tax Act, 1961, provides exceptional relief for companies undergoing restructuring...
In the following Cases, Instances of Agricultural and Non-Agricultural Incomes are described in details...
1. Firm to be Assessed as Firm
Essential conditions prescribed under section 184 of the Income-tax Act,...
Section 194LBB of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on income distributed...
Section 16 allows three key deductions from gross salary income before computing taxable salary. These...
Short Answer: No, the Annual Value (AV) or Net Annual Value (NAV) of a property cannot be negative under...
Learn Section 37 Business Expenditure: Which Business Expenses Are Deductible Under The Income Tax Act....
Section 194D of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payments made as insurance...
Applicable to: *Individuals aged 60+ years (including NRIs)*
This section provides higher tax relief...
Special Economic Zones (SEZs) have emerged as key drivers of economic growth and development in many...
Provisions and Amendments Relating to Direct Tax Vivad se Vishwas Scheme, 2024
The Income-tax Act, 1961...
Section 10(44) of the Income Tax Act, 1961 provides for exemption from income tax in India in respect...
Section 10(4F) specifically applies to income earned by a non-resident from a unit of an International...
When an employer provides accommodation in a hotel, guest house, or similar facility, its taxability...
1. Legal Provision Overview
Section 206C(1B): Mandates that sellers(collectors of TCS) must submit buyer...
Under Explanation 1(iii) to Section 115JB(2), companies can deduct the lower of:
Brought forward losses(as...
1. Basic Rule for HUF Residency
A HUF is Resident in India if:
“Control and management of its affairs...