Rule 12 of the Income Tax Rules, 1962, prescribes the forms, conditions, and procedures for filing income...
Order No. [F. No. 225/235/2024/ITA-II] Dated 31st January, 2025
MINISTRY OF FINANCE
(Department of Revenue)
Order...
Understanding Section 10(10)
Section 10(10) provides tax exemption on gratuity payments received by employees....
Section 157 deals with the communication of losses determined by the Assessing Officer (AO) to taxpayers....
Section 234H of the Income Tax Act, 1961 imposes a fee for failure to intimate/link one’s Aadhaar...
1. [Section 56(2)]: List of Incomes included under ‘Income from Other Sources’
There are many incomes...
(1) In the world of business and taxation, there are various provisions and regulations that govern...
Notification No. 06/2025 [F. No. 275/108/2024-IT(B)] Dated 6th January, 2025
MINISTRY OF FINANCE
(Department...
Here’s a detailed breakdown of the valuation of motor car perquisites under Rule 3(2) of the Income Tax...
1. Investment in Sukanya Samriddhi Yojana for Tax Saving for AY 2022-23 & 2023-24
Sukanya Samriddhi...
Ministry of Finance
CAPITAL GAINS TAXATION SIMPLIFIED AND RATIONALISED
SHORT TERM GAINS TO ATTRACT A...
Short Answer: No, the Annual Value (AV) or Net Annual Value (NAV) of a property cannot be negative under...
Section 10(26) of the Income Tax Act provides a tax exemption for members of Scheduled Tribes residing...
1. Core Principle (Tax Credit Mechanism)
Shield for Taxpayers: When tax has been duly deducted at source...
Section 132B governs how assets seized under Section 132 or requisitioned under Section 132A are to be utilized,...
(1) Introduction to Section-72
Section 72, which deals with the carry forward and set off of business...
The Post Office has been a trusted place for depositing and transacting with money. This is especially...
Business trusts have gained popularity in recent years as a unique investment vehicle. They offer investors...
Section 10(14) provides exemptions for certain special allowances granted to employees for specific purposes....
Here’s a detailed analysis of Section 273A of the Income Tax Act, 1961, which empowers tax authorities...