Notified special allowance is an allowance that has been notified by the Central Government under Section...
Section 197A of the Income Tax Act, 1961 provides specific situations where no Tax Deducted at Source...
Understanding of Section 54
When an individual sells a residential house property, they are liable to...
1. Litigation management when in an appeal by revenue an identical question of law is pending before...
Note:
(a) “Basic Customs Duty (BCD)” means the customs duty levied under the Customs Act, 1962.
(b)...
Following Business are required to get their Accounts compulsory Tax Audited by a Chartered Accountant...
A recognized provident fund is a retirement savings scheme that is approved by the government. It is...
Understanding Section 10(8)
Section 10(8) provides tax exemption for income received by:
Foreign technicians/experts
Employees...
The rules for valuation of specified fringe benefits or amenities arc as under:
1. Interest Free Or...
Section 36 of the Income Tax Act, 1961 lists specific deductions allowed against business income, in...
(A) In the case of every Individual or Hindu Undivided Family (HUF)
(A1) If the individual...
Section 25A of the Income Tax Act, 1961, governs the tax treatment of arrears of rent (unpaid rent recovered...
Section 54GA of the Income Tax Act provides an exemption on capital gains arising from the transfer of...
Pensions are fixed sums of money that individuals receive at regular intervals after retirement. They...
Section 283 of the Income Tax Act, 1961, provides special rules for serving notices when:
A Hindu Undivided...
Understanding the intricacies of advance tax and self-assessment tax is crucial for both compliance and...
Section 169 of the Finance Act, 2016 (Chapter VIII) governs the rectification of mistakes in the context...
Permanent Account Number (PAN) is a unique ten-digit alphanumeric code issued by the Income Tax Department...
Section 10(37) of the Income Tax Act, 1961 provides for the exemption of capital gains on compensation...
The Faceless Appeal Scheme, 2021, introduced via Notification No. 139/2021 dated 28th December 2021,...