Section 79 of the Income Tax Act, 1961, imposes strict restrictions on the carry-forward and set-off...
Overview of Section 10(6C)
Section 10(6C) provides a tax exemption to foreign companies on income received...
Section 10(10BC) of the Income Tax Act, 1961, provides an exemption for compensation received by an individual...
Introduction
In the world of business and finance, it is not uncommon for companies to convert their...
Section 74 of the Income Tax Act, 1961 governs the treatment of capital losses, providing specific rules...
1. Documents Required to Apply for NRI PAN Card
As a Non-Resident Indian (NRI), obtaining a Permanent...
Unit Linked Insurance Plans (ULIPs) are a unique financial product that offers the dual benefits of life...
Exemption of amount received by an individual as Loan under Reverse Mortgage Scheme [Section 10(43)]
Reverse mortgage is a financial scheme that allows senior citizens to convert their home equity into...
[Section 46A] : Capital Gains on Purchase by Company of its Own Shares or Other Specified Securities
(1) Capital gains tax is an important aspect of the Indian Income Tax Act, 1961. Section 46A of...
Notification No. 07/2025 [F. No. 203/20/2024/ITA-II] Dated 14th January, 2025
MINISTRY OF FINANCE
(Department...
Applicable to: *Farmer Producer Companies (FPCs) registered under Companies Act, 1956/2013*
This section...
Under the Goods and Services Tax (GST) regime in India, healthcare services and hospital room rent are...
Overview
Section 157A of the Income Tax Act, 1961, was introduced to empower the Central Government to...
Amendment of section 7.
151. In the Union Territory Goods and Services Tax Act, 2017 (14 of 2017.) (hereinafter...
Here’s a structured summary of the key amendments related to deduction on remuneration paid to partners introduced...
Section 13 of the Income Tax Act, 1961 specifies situations where the tax exemptions under Section 11...
1. Definition & Applicability
Entertainment Allowance is a special allowance given to employees to...
1. Applicability
Section 56(2)(ii) covers rental income from:
Machinery
Plant(equipment, tools, vehicles)
Furniture
when not...
Section 74A of the Income Tax Act, 1961, provides specific rules for the treatment of losses incurred...
Section 132B governs how assets seized under Section 132 or requisitioned under Section 132A are to be utilized,...