1. Key Features of Section 69B
Objective: Targets underreported investmentswhere actual expenditure...
1. Key Features of Section 69
Objective: Targets unexplained investments(e.g., property, gold, shares)...
Applicable to: Banks/Financial Institutions operating in IFSCs (e.g., GIFT City)
This section provides 100%...
Notification No. 05/2025 [F. No. 300196/37/2019-ITA-I] Dated 3nd January, 2025
MINISTRY OF FINANCE
(Department...
Ministry of Finance
HIGHLIGHTS OF UNION BUDGET 2025-26
Posted On: 01 FEB 2025 1:29PM by PIB Delhi
PART...
Section 168 of the Finance Act, 2016 (Chapter VIII) governs the processing of statements furnished under...
Explanation (iii) to Section 48 of the Income Tax Act, 1961, defines the indexed cost of acquisition for...
For income to be taxed under the head “Income from House Property” (Sections 22-27 of the...
The Indian Income Tax Act, 1961 classifies taxable income under five distinct heads, with “Income...
Retrenchment compensation received by an employee due to termination of employment is partially exempt from...
Section 10(23F) of the Income Tax Act provided a tax exemption for dividends and long-term capital gains...
Here’s a detailed analysis of the tax treatment of family pension payments received by legal heirs of...
(1) In the world of business and taxation, there are various provisions and regulations that govern...
Purpose:
This section provides a full tax exemption on the income of local authorities, such as municipalities,...
The “Full Value of Consideration” (FVC) is the total amount received or receivable when a...
Income chargeable under the head “Income from house property” shall be computed after making...
Section 264A of the Income Tax Act, 1961, introduced by the Taxation Laws (Relaxation and Amendment)...
New Section 44BBD:
Section 44BBD, introduced by the Finance Act 2025, is a presumptive taxation scheme...
Section 10(44) of the Income Tax Act, 1961 provides for exemption from income tax in India in respect...
Tax on Non-Agricultural Income with partial Agricultural Income
As already discussed, there is no tax...