Basic Rule
Under Section 64(1A), all income of a minor child (below 18 years) is automatically clubbed with...
Under Section 240 of the Income Tax Act, 1961, refunds arising from appellate or other proceedings are...
Section 10(10CC) provides a unique tax benefit where certain perquisites paid by employers are exempt...
Section 230 of the Income Tax Act, 1961 mandates certain individuals to obtain a Tax Clearance Certificate...
Section 54GA of the Income Tax Act provides an exemption on capital gains arising from the transfer of...
Section 10(23FC) of the Income Tax Act provides a tax exemption for specific types of income earned by...
Section 194-I of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on rent payments exceeding...
Section 250 of the Income Tax Act, 1961 governs the procedure followed by the Commissioner of Income...
(A) Providing Tax Relief
A.1 Substantial relief is proposed under the new tax regime with new slabs and...
Political parties play a crucial role in any democratic society. They serve as the voice of the people,...
Section 69D targets hundi transactions (an informal financial instrument) conducted without banking channels,...
1. Automated Processing by CPC-TDS
Centralized Processing Center (CPC-TDS)processes all TDS returns
Auto-validationof...
Here’s a detailed explanation of Section 173 (Penalty Not to Be Imposed in Certain Cases) under the Equalisation...
Introduction-
The CBIC vide Notification No. 04/2024 – Central Tax dated January 05, 2024, notified the...
Section 63 defines what constitutes a revocable transfer for the purposes of Section 61. It clarifies...
Where any person receives at any time during any previous year any money or other assets under an insurance...
Section 220(2) of the Income Tax Act, 1961, imposes interest @ 1% per month on unpaid tax demands if...
Here’s a detailed table summarizing the tax treatment of Provident Fund (PF) contributions, interest,...
House Rent Allowance (HRA) is a common component of most employees’ salary packages. It is provided...
Here’s a detailed breakdown of incomes exempt under Section 11 of the Income Tax Act, 1961, for charitable...