According to Section 10(7), allowances or perquisites received by an employee outside of India for rendering...
Here’s a detailed breakdown of incomes exempt under Section 11 of the Income Tax Act, 1961, for charitable...
Applicable to: Individuals & HUFs
This section provides tax relief for expenses incurred on the care...
Concept:
Section 61states that if an asset is transferred in a revocable manner, any income from that...
Section 10(23FE) of the Income Tax Act provides a tax exemption for certain types of income earned by...
1. Automated Processing by CPC-TDS
Centralized Processing Center (CPC-TDS)processes all TDS returns
Auto-validationof...
SCSS is a savings product available for senior citizens aged 60 or above. On the date of opening an SCSS...
Death-cum-Retirement Gratuity is an important financial benefit provided to employees in India. It is...
Section 9 of the Income Tax Act, 1961 is an important provision that deals with the taxation of income...
Section 197 of the Income Tax Act, 1961 provides a mechanism for taxpayers to obtain certificates for...
Leave encashment refers to the amount received by an employee in exchange for unused leave balance at...
Section 198 of the Income Tax Act, 1961 establishes a fundamental principle that any tax deducted at...
Here’s a detailed table summarizing the tax treatment of Provident Fund (PF) contributions, interest,...
Section 80DD of the Income Tax Act in India provides a deduction for individuals or Hindu Undivided Families...
1. Covered Entities (Section 10(23C))
The following enjoy 100% tax exemption on their income:
Funds/institutions...
1. Legal Provision
Section 206C(4)ensures that the buyer (collectee) receives credit for the TCS amount...
An Association of Persons (AOP), whether incorporated or not, is treated as a `person` under section...
Here’s a detailed explanation of Section 78(2) regarding carry forward and set-off of losses in...
Learn Section 37 Business Expenditure: Which Business Expenses Are Deductible Under The Income Tax Act....
Section 25 of the Income Tax Act lays down a specific disallowance: certain types of interest payments...