Section 10(23FB) of the Income Tax Act provides a tax exemption for income earned by a Venture Capital...
Tax on distributed income of domestic company for buy-back of shares
Special provisions relating to tax...
Section 45(1) of the Income Tax Act, 1961 is the foundational provision that defines how and when capital...
According to Section 10(7), allowances or perquisites received by an employee outside of India for rendering...
A Post Office Savings Account is one of the most popular and accessible savings accounts in India.
The...
1. Applicability
Section 56(2)(x) covers:
Cash gifts
Immovable property(land, buildings)
Movable property(jewelry,...
Section 143(3) deals with the scrutiny assessment process in Indian income tax law. This assessment is...
Section 10(10A) of the Income Tax Act in India relates to the tax treatment of payments made in commutation...
Section 10(23EA) of the Income Tax Act provides a tax exemption for income received by an Investor Protection...
The Income Tax Appellate Tribunal (ITAT) is the second appellate authority under the Income Tax Act,...
Section 194T, introduced by the Finance (No. 2) Bill, 2024, is effective from April 1, 2025. This section...
Section 285BA of the Income Tax Act, 1961, mandates specified entities to report high-value financial...
As already discussed, motor car/other vehicles, provided by the employer, is a perquisite only for specified...
Section 10(23EC) of the Income Tax Act provides a tax exemption for income received by an Investor Protection...
Section 142B of the Income Tax Act, 1961 empowers the Central Government to make schemes for faceless...
Section 194K of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on income distributed...
Section 10(12A) of the Income Tax Act, 1961 provides important tax benefits for withdrawals from the...
1. Overview
Introduced: Finance Act 2021 (effective from 1st July 2021) .
Purpose: Encourage tax compliance...
1. Key Features of Section 69A
Objective: Targets unexplained money, jewellery, or assetsfound in possession...
Section 40A of the Income Tax Act, 1961 specifies certain expenses or payments that cannot be deducted while...