Tax incentives to International Financial Services Centre
International Financial Services Centre (IFSC)...
Section 10(4E) of the Income Tax Act, 1961 in India provides an exemption for income earned by a non-resident...
1. [Section 80C]: Deduction in respect of Life Insurance Premium, Deferred Annuity, Contributions to...
Section 285BA of the Income Tax Act, 1961, mandates specified entities to report high-value financial...
1. Perquisites [(Section 17(2)]-Definition
Section 17(2) of the Income-tax Act, 1961 gives an inclusive...
Section 80DDB of the Income Tax Act in India provides a deduction for individuals and Hindu Undivided...
Applicable to: Individuals & HUFs
This section provides tax benefits for health-related expenditures,...
Section 194-IA of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payments made for...
Understanding of Section 56(2)(i)
In India, the taxation of dividends is governed by the provisions of...
Section 54F of the Income Tax Act, 1961, provides tax exemption on long-term capital gains (LTCG) from...
Here’s a detailed explanation of Section 173 (Penalty Not to Be Imposed in Certain Cases) under the Equalisation...
Section 25A of the Income Tax Act, 1961, governs the tax treatment of arrears of rent (unpaid rent recovered...
When a disaster strikes, it can cause immense damage to life and property. In such difficult times, the...
Here’s a detailed table summarizing the tax treatment of Provident Fund (PF) contributions, interest,...
Provident Fund Scheme is a welfare scheme for the benefit of the employees. Under this scheme, certain...
Under the Indian Income Tax Act, 1961, the taxability of income from letting out of machinery, plant,...
Section 145 of the Income Tax Act, 1961 governs the method of accounting for computing taxable income...
An individual may either be a:
(a) Resident in India; or
(b) Deemed to be Resident In India...
1. General Rule for All Non-Company Entities [Section 6(2)]
The residential status of Firms, AOPs, BOIs,...