Section 144A: Power of Joint Commissioner to Issue Directions in Certain Cases
Section 144A of the Income Tax Act, 1961, empowers the Joint Commissioner (JCIT) to intervene in pending...
[Section 210(1)]: Payment of Advance Tax by the Assessee on Their Own Accord
1. Overview Under Section 210(1) of the Income Tax Act, 1961, taxpayers liable for advance tax must voluntarily...
Travel Concession or Assistance received by an individual from his Employer [Section 10(5)]
Section 10(5) of the Income Tax Act allows for certain tax exemptions on travel expenses provided by...
Section 80DDB : Deduction in respect of Medical Treatment, etc.
Section 80DDB of the Income Tax Act in India provides a deduction for individuals and Hindu Undivided...
[Section 234H]: Fee for Default in Intimation of Aadhaar Number
Section 234H of the Income Tax Act, 1961 imposes a fee for failure to intimate/link one’s Aadhaar...
Functionalities to file commonly used ITRs enabled by CBDT on 1st April, 2024
Government of India Department of Revenue Ministry of Finance Central Board of Direct Taxes New Delhi,...
Permanent Account Number [Section 139A And Rule 114]
What is PAN? Permanent Account Number (PAN) is a unique ten-digit alphanumeric identifier issued by...
Capital Gain in the case of Transfer of Shares/Debentures by Non-Residents (Proviso 1 to Section 4 and Rule 115A)
Understanding of Capital Gain When it comes to the transfer of shares or debentures by non-residents,...
Exemption on Sale of Agricultural Land Under Section 54B
Introduction Section 54B of the Income Tax Act, 1961, provides an exemption on capital gains arising...
Mandating Electronic Payment Acceptance (Sections 269SU & 271DB)
To promote digital transactions, the Income Tax Act mandates certain businesses to compulsorily accept...
Provisions and Amendments Relating to “Measures to Promote Investment and Employment” under Finance (No.2) Bill, 2024.
Tax incentives to International Financial Services Centre International Financial Services Centre (IFSC)...
Compulsory Tax Audit Under Section 44AB Even if Accounts Are Audited Under Other Laws
Yes, a tax audit under Section 44AB is compulsory even if the accounts are already audited under: Other...
Section 43B: Deductions Allowed Only on Actual Payment
Section 43B of the Income Tax Act, 1961 is a crucial provision that disallows certain expenses unless...
Exemption in respect of Income received by certain Foreign Companies [Section 10(48)]
Section 10(48) of the Income Tax Act provides an exemption in respect of income received by certain foreign...
Service of Notice Under the Income Tax Act [Section 282 to 284]
These sections govern how notices, summons, orders, and other communications must be served by the Income...
[Section 56(2)(i)] : Taxability of Dividend under Income from Other Sources
Understanding of Section 56(2)(i) In India, the taxation of dividends is governed by the provisions of...
[Section 234C]: Interest for Deferment of Advance Tax
Section 234C of the Income Tax Act, 1961 imposes interest for deferring advance tax payments beyond the...
[Section 282A]: Authentication of Notices & Documents
1. What is Section 282A? Section 282A mandates proper authentication of all income tax notices, orders,...
The Commissioner for the Robindra Setu, Kolkata is Notified for the purpose of Section 10(46) of Income-Tax Act, 1961 – ‘04/2025’
Notification No. 04/2025 [F. No. 196/1/2023-ITA-I] Dated 3nd January, 2025 MINISTRY OF FINANCE (Department...
Section 44AD: Special Provisions for Computing Profits & Gains of Eligible Businesses
Section 44AD provides a presumptive taxation scheme for small businesses, allowing them to declare income...
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