Section 80TTA of the Income Tax Act, 1961 provides for a deduction in respect of interest on deposits...
Under the Income Tax Act, 1961, the Principal Chief Commissioner (PCCIT), Chief Commissioner (CCIT),...
Purpose:
This section provides a full tax exemption on income earned by scientific research associations that...
1. Applicability of Section 56(2)(ic)
This provision covers any sum of money received by an employer from...
Section 132 of the Income Tax Act, 1961, empowers the Income Tax Department to conduct search and seizure...
Certain professionals and government employees receive special allowances that are fully or partially...
Here’s a comprehensive analysis of Section 56(2)(viib) of the Income Tax Act, 1961, which taxes share...
Trade unions play a crucial role in protecting the rights and interests of workers. They negotiate with...
Section 10(16) of the Income Tax Act, 1961 provides exemption from income tax for scholarships granted...
When a disaster strikes, it can cause immense damage to life and property. In such difficult times, the...
When it comes to dealing with various processes and procedures, understanding the time limits, forms,...
Section 293B of the Income Tax Act, 1961, empowers the Central Board of Direct Taxes (CBDT) to condone...
Applicable to: Individuals & HUFs (Non-Senior Citizens)
This section provides tax relief on interest...
Introduction
In the world of business and finance, it is not uncommon for companies to convert their...
1. Individual and HUF Applicants who are Citizens of India and Located Within and Outside India at the...
1. Covered Entities (Section 10(23C))
The following enjoy 100% tax exemption on their income:
Funds/institutions...
Interest on Non-resident (External) Account (NRE) is exempt from income tax in India under Section 10(4)(ii)...
(1) When an asset is acquired by the government through the process of compulsory acquisition,...
Section 80G of the Income Tax Act, 1961 provides provisions for claiming deductions on donations made...
The commuted value of pension refers to the lump sum amount received by an employee in lieu of a portion...