The Tonnage Tax Scheme is a special taxation regime introduced under Chapter XII-G (Sections 115V to...
Sections 15-17 Guide : Learn How To Compute Income From Salaries Under India’s Income Tax Act....
Section 64 of the Income Tax Act, 1961, mandates the clubbing of certain incomes earned by family members...
The Finance (No. 2) Bill, 2024, has introduced several significant amendments to the capital gains tax...
Section 71B of the Income Tax Act, 1961, governs the carry forward and set-off of losses from house property,...
Section 10(6) of the Income Tax Act, 1961 provides tax exemptions for certain types of remuneration received...
Section 293B of the Income Tax Act, 1961, empowers the Central Board of Direct Taxes (CBDT) to condone...
Understanding Section 10(8A)
Section 10(8A) provides full tax exemption on remuneration received by:
Non-Indian...
1. Covered Entities (Section 10(23C))
The following enjoy 100% tax exemption on their income:
Funds/institutions...
The Income Tax Act, 1961, provides specific cases where TDS is not required to be deducted, even if the...
The Income Tax Act, 1961, mandates taxpayers to submit certain documents, statements, and disclosures along...
1. Overview of Section 58
Section 58 specifies expenses that cannot be deducted while computing taxable...
Section 144B introduces a technology-driven, faceless assessment scheme to eliminate human interface,...
Special Provisions for computing Business income in certain cases on the basis of Estimated Income Method...
1. Perquisites [(Section 17(2)]- Income under the head Salaries
Section 17(2) of the Income-tax Act,...
Applicable to: *Farmer Producer Companies (FPCs) registered under Companies Act, 1956/2013*
This section...
Introduction
Agricultural land is a significant asset in India, providing employment to many people and...
1. Allowances- Income under the head Salaries
Allowance is a fixed monetary amount paid by the employer...
In the intricate landscape of Goods and Services Tax (GST), the concepts of zero-rated supply and export...
Section 234A(3) of the Income Tax Act, 1961, deals with interest payable when an assessee fails to file...