Section 144A of the Income Tax Act, 1961, empowers the Joint Commissioner (JCIT) to intervene in pending...
1. Overview
Under Section 210(1) of the Income Tax Act, 1961, taxpayers liable for advance tax must voluntarily...
Section 10(5) of the Income Tax Act allows for certain tax exemptions on travel expenses provided by...
Section 80DDB of the Income Tax Act in India provides a deduction for individuals and Hindu Undivided...
Section 234H of the Income Tax Act, 1961 imposes a fee for failure to intimate/link one’s Aadhaar...
Government of India
Department of Revenue
Ministry of Finance
Central Board of Direct Taxes
New Delhi,...
What is PAN?
Permanent Account Number (PAN) is a unique ten-digit alphanumeric identifier issued by...
Understanding of Capital Gain
When it comes to the transfer of shares or debentures by non-residents,...
Introduction
Section 54B of the Income Tax Act, 1961, provides an exemption on capital gains arising...
To promote digital transactions, the Income Tax Act mandates certain businesses to compulsorily accept...
Tax incentives to International Financial Services Centre
International Financial Services Centre (IFSC)...
Yes, a tax audit under Section 44AB is compulsory even if the accounts are already audited under:
Other...
Section 43B of the Income Tax Act, 1961 is a crucial provision that disallows certain expenses unless...
Section 10(48) of the Income Tax Act provides an exemption in respect of income received by certain foreign...
These sections govern how notices, summons, orders, and other communications must be served by the Income...
Understanding of Section 56(2)(i)
In India, the taxation of dividends is governed by the provisions of...
Section 234C of the Income Tax Act, 1961 imposes interest for deferring advance tax payments beyond the...
1. What is Section 282A?
Section 282A mandates proper authentication of all income tax notices, orders,...
Notification No. 04/2025 [F. No. 196/1/2023-ITA-I] Dated 3nd January, 2025
MINISTRY OF FINANCE
(Department...
Section 44AD provides a presumptive taxation scheme for small businesses, allowing them to declare income...