Section 10(23B) of the Income Tax Act provides a tax exemption for income earned by certain institutions...
A Hindu Undivided Family (HUF) is a unique entity recognized by the Indian tax system. It is a family...
The Income Tax Law in India is a complex and ever-changing set of regulations that govern the taxation...
Section 206CC of the Income Tax Act, 1961 mandates a higher Tax Collected at Source (TCS) rate if the...
The Faceless Appeal Scheme, 2021, introduced via Notification No. 139/2021 dated 28th December 2021,...
Here’s a structured table summarizing the extension of time limits for filing Updated Tax Returns (ITR-U)...
Zero-coupon bonds, also known as deep discount bonds, are fixed-income securities that do not pay periodic...
Under the Income Tax Act, 1961, rent-free or concessional accommodation provided by an employer is a taxable...
Retrenchment compensation is the amount paid to a workman (employee) at the time of termination of employment...
Section 10(4) of the Income Tax Act, 1961 in India provides an exemption for certain types of interest...
Section 143(3) deals with the scrutiny assessment process in Indian income tax law. This assessment is...
Here’s a detailed breakdown of the collection and recovery of Equalisation Levy (EL) under Sections 166...
Section 192 mandates employers to deduct Tax Deducted at Source (TDS) from employees’ salaries...
1. Understanding of Section 80-IBA
Section 80-IBA of the Income Tax Act, 1961, provides a deduction...
Here’s a detailed explanation of Section 78(2) regarding carry forward and set-off of losses in...
Applicable to: Salaried (without HRA) & Self-Employed Individuals
This section provides tax relief...
Under the Income Tax Act, brought forward losses must be set off against eligible income in the immediately...
Long-term capital gain arising on the transfer of any capital asset being land or building or both is...
1. Legal Basis for TDS Certificates
Section 203of the Income Tax Act, 1961 mandates that every deductor must...
Section 9 of the Income Tax Act, 1961, is a critical provision that determines when income is considered...