Section 63 defines what constitutes a revocable transfer for the purposes of Section 61. It clarifies...
1. Basic Condition
A taxpayer is liable to pay advance tax if:
Estimated tax liability(after deducting...
Notification No. 13/2025 [F. No.370142/9/2024-TPL] Dated 07th February, 2025
MINISTRY OF FINANCE
(Department...
Section 10(48A) of the Income Tax Act provides an exemption in respect of income earned by a foreign...
1. Perquisites [(Section 17(2)]-Definition
Section 17(2) of the Income-tax Act, 1961 gives an inclusive...
Ministry of Finance
HIGHLIGHTS OF THE UNION BUDGET 2024-25
Posted On: 23 JUL 2024 1:17PM by PIB Delhi
The...
Section 10(23FF) of the Income Tax Act provides a targeted capital gains exemption for non-residents...
Section 10(10CC) of the Income Tax Act, 1961, deals with the tax treatment of non-monetary perquisites...
1. Clarification in respect of Disallowance under Section 14A in absence of any Exempt Income during...
Section 10(19) of the Income Tax Act provides an exemption for the family pension received by the family...
Applicable to: Individuals & HUFs (for self or dependent relatives)
This section provides tax relief...
The Income Tax Act, 1961 contains provisions related to search, seizure, survey, and special procedures...
In the realm of tax enforcement, the power of inspection, search, and seizure plays a pivotal role in...
Section 10(26) of the Income Tax Act provides special provisions for the income of a member of a Scheduled...
Section 194-I of the Income Tax Act, 1961, a crucial piece of legislation in India, governs the taxation...
Following goods are being exempted from levy of Social Welfare Surcharge
S. No.
Description
1.
Natural...
Section 206C of the Income Tax Act, 1961 mandates sellers to collect tax at source (TCS) from buyers...
Key Rule
When an individual converts their self-acquired property into HUF (Joint Family) property, any...
Section 15 of the Income Tax Act, 1961 defines what constitutes taxable salary income and specifies the...