Term life insurance, also known as pure life insurance, is a type of life insurance that guarantees payment...
Order No. [F. No. 225/17/2025-ITA-II] Dated 28th January, 2025
MINISTRY OF FINANCE
(Department of Revenue)
To
All...
1. Understanding the Principle of Mutuality
The principle of mutuality relates to the notion that a person...
Under the Explanation to Section 139(9) of the Income Tax Act, 1961, a return is considered defective if...
Notification No. 04/2025 [F. No. 196/1/2023-ITA-I] Dated 3nd January, 2025
MINISTRY OF FINANCE
(Department...
Section 10(26) of the Income Tax Act provides a tax exemption for members of Scheduled Tribes residing...
Long-term capital gain arising on the transfer of any capital asset being land or building or both is...
The Income Tax Appellate Tribunal (ITAT) is the second appellate authority under the Income Tax Act,...
1. Basic Concepts
Firm: Partnership firm registered under Partnership Act, 1932
LLP: Limited Liability...
Section 10(13A) of the Income Tax Act, 1961 provides an exemption for the House Rent Allowance (HRA) received...
Here’s a detailed analysis of the tax treatment of family pension payments received by legal heirs of...
S.O. 614(E).-In exercise of the powers conferred by sub-section (2) of section 168 of Finance Act, 2016...
Here’s a detailed analysis of Section 271J of the Income Tax Act, 1961, which imposes penalties...
Under Section 261 of the Income Tax Act, 1961, an appeal can be filed before the Supreme Court of India against...
Section 115BAA of the Income Tax Act, 1961 provides a concessional tax rate of 22% (plus surcharge &...
Purpose:
This section provides a 100% tax exemption to foreign companies on income earned from leasing cruise...
Section 10(48A) of the Income Tax Act provides an exemption in respect of income earned by a foreign...
Understanding Section 10(10A)
Section 10(10A) provides tax exemption for commuted pension amounts received...
Section 54GA of the Income Tax Act provides an exemption on capital gains arising from the transfer of...
Special Economic Zones (SEZs) have emerged as key drivers of economic growth and development in many...