Section 196: No TDS on Payments to Government, RBI, or Certain Corporations
Section 196 of the Income Tax Act, 1961 provides an exemption from Tax Deducted at Source (TDS) for payments...
[Section 234H]: Fee for Default in Intimation of Aadhaar Number
Section 234H of the Income Tax Act, 1961 imposes a fee for failure to intimate/link one’s Aadhaar...
Changes Proposed in the GST Act by the Finance (No. 2) Bill 2024
The Finance (No. 2) Bill, 2024, introduces significant amendments to the Central Goods and Services Tax...
Amendments Related to Investment Funds and IFSCs
Section 9A (Investment Fund Participation Rules): Indirect investments by Indian residents in offshore...
Section 80D: Deduction for Health Insurance Premium & Medical Expenses
Applicable to: Individuals & HUFs This section provides tax benefits for health-related expenditures,...
Section 10(13A)- Tax Exemptions on House Rent Allowance (HRA) received by an Employee to meet Rental Expenses
Section 10(13A) of the Income Tax Act, 1961 provides an exemption for the House Rent Allowance (HRA) received...
Particulars to be Furnished with the Return of Income [Sections 139(6) & 139(6A)]
The Income Tax Act, 1961, mandates taxpayers to submit certain documents, statements, and disclosures along...
Carry Forward and Set-Off of Capital Losses [Section 74]
Section 74 of the Income Tax Act, 1961 governs the treatment of capital losses, providing specific rules...
Penalty for Failure to Furnish the Equalisation Levy (EL) Statement [Section 172]
Here’s a detailed explanation of the penalty for failure to furnish the Equalisation Levy (EL)...
[Section 80RRB]: Deduction in respect of Royalty on Patents
Section 80RRB of the Income Tax Act, 1961, provides for a deduction in respect of royalty income received...
Section 10(6BB)- Exemption for Foreign Governments/Enterprises on Aircraft Leasing Income
Section 10(6BB) of the Income Tax Act, 1961 provides a tax exemption to foreign governments or foreign...
Section 80E: Deduction in respect of Payment of Interest on Loan taken for Higher Education
Education is an essential aspect of personal and professional growth. However, pursuing higher education...
Situations Where No Tax is to be Deducted at Source (TDS Exemptions)
The Income Tax Act, 1961, provides specific cases where TDS is not required to be deducted, even if the...
[Section 58]: Amounts Not Deductible in computing the income under the head ‘Income from Other Sources’
While the income from other sources is taxable, there are certain amounts that are not deductible while...
CBDT issues clarification in respect of Income-tax clearance certificate (ITCC)-Press Release by PIB
Ministry of Finance CBDT issues clarification in respect of Income-tax clearance certificate (ITCC) It...
Exclusion of Time Taken for Obtaining Copy of Order [Section 268]
Section 268 of the Income Tax Act, 1961 provides a relief mechanism for taxpayers and the tax department...
[Section 293B]: Condonation of Delay in Obtaining Approval
Section 293B of the Income Tax Act, 1961, empowers the Central Board of Direct Taxes (CBDT) to condone...
Death-cum-Retirement Gratuity received by an employee [Section 10(10)]
Death-cum-Retirement Gratuity is an important financial benefit provided to employees in India. It is...
Section 10(4F)-Income of Non-Resident by way of Royalty or Interest, on account of Lease of An Aircraft
Section 10(4F) of the Income Tax Act, 1961 in India provides an exemption for income earned by a non-resident...
The Budget Speech for 2025-26 by Finance Minister Nirmala Sitharaman- Flip e-Book (PDF)
The Budget Speech for 2025-26 by Finance Minister Nirmala Sitharaman, presented in Parliament, outlines...
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