Yes, under Section 238 of the Income Tax Act, 1961, a person other than the assessee can claim a refund...
Here’s a detailed explanation of tax relief under Section 89(1) read with Rule 21A of the Income Tax...
Section 54GB of the Income Tax Act, 1961, provides tax exemption on long-term capital gains (LTCG) from...
Section 10(26) of the Income Tax Act provides a tax exemption for members of Scheduled Tribes residing...
We will continue our efforts to simplify taxes, improve tax payer services, provide tax certainty and...
Ministry of Finance
FAQs issued by CBDT on the new Capital Gains Tax Regime proposed in the Union Budget...
Section 115F of the Income Tax Act, 1961, provides a tax exemption to Non-Resident Indians (NRIs) on long-term...
Section 234F of the Income Tax Act, 1961 imposes a late filing fee if an assessee fails to file their...
1. Computation of Income under the head Income from “Salaries”
The first head of income is...
Understanding Section 10(8A)
Section 10(8A) provides full tax exemption on remuneration received by:
Non-Indian...
Section 10(6) of the Income Tax Act, 1961 provides an exemption from income tax for certain income received...
Retirement benefits such as pension, gratuity, provident fund, and leave encashment are taxed differently...
Section 142A of the Income Tax Act, 1961 empowers the Assessing Officer (AO) to refer matters of asset...
Yes, a loss can arise under “Income from House Property” due to high interest on home loans or low...
Permanent Account Number (PAN) is a unique ten-digit alphanumeric code issued by the Income Tax Department...
Here’s a detailed explanation of Penalty under Section 271AAC of the Income Tax Act, 1961, which applies...
Ministry of Finance
CAPITAL GAINS TAXATION SIMPLIFIED AND RATIONALISED
SHORT TERM GAINS TO ATTRACT A...
Here’s a detailed breakdown of the collection and recovery of Equalisation Levy (EL) under Sections 166...
Under the Explanation to Section 139(9) of the Income Tax Act, 1961, a return is considered defective if...
As already discussed, motor car/other vehicles, provided by the employer, is a perquisite only for specified...