The Finance Bill 2025, presented by Finance Minister Nirmala Sitharaman as part of the Union Budget 2025-26,...
The taxation of dividends in India has undergone significant changes over the years. This article aims...
Applicable to: All taxpayers (Individuals, HUFs, Companies, etc.)
This section provides tax benefits...
Section 10(4H) of the Income Tax Act, 1961 in India provides an exemption for certain income earned by...
Section 36 of the Income Tax Act, 1961 lists specific deductions allowed against business income, in...
Gratuity is a lump-sum payment made by an employer to an employee as a token of appreciation for long-term...
Section 10(11) of the Income Tax Act provides tax exemption on withdrawals from a Statutory Provident...
List of all Other Deductions which are specified under section 36 of the Indian Income Tax Act,1961,...
1. Investment in Sukanya Samriddhi Yojana for Tax Saving for AY 2022-23 & 2023-24
Sukanya Samriddhi...
1. Fundamental Principle
TDS Credit Mechanism: Any tax deducted at source (TDS) is treated as:
Payment...
Section 10(12B) of the Income Tax Act, 1961 provides tax exemptions on partial withdrawals from the National...
1. Overview
Introduced: Finance Act 2021 (effective from 1st July 2021).
Purpose: Imposes higher Tax...
So far, we have discussed what are the various incomes, allowances and perquisites which are exempt and...
Under Section 23(2) to (4) of the Income Tax Act, 1961, a self-occupied residential property (SOP) is...
Section 9 of the Income Tax Act, 1961, is a critical provision that determines when income is considered...
Section 158AA of the Income Tax Act, 1961 (inserted via Finance Act, 2015) provides a mechanism to prevent...
Section 37(1) of the Income Tax Act, 1961 is a crucial provision that allows businesses and professionals...
Section 273AA of the Income Tax Act, 1961, empowers the Principal Commissioner or Commissioner to grant...
Arrears of salary refer to payments received by an employee for work done in previous financial years...
Ministry of Finance
GOVERNMENT MAKES NEW TAX REGIME MORE ATTRACTIVE
STANDARD REDUCTION INCREASED FROM...