Under Section 253 of the Income Tax Act, 1961, appeals can be filed before the Income Tax Appellate Tribunal...
The Deduction and Collection of Tax at Source (TDS/TCS) provisions under the Income Tax Act, 1961 are...
Section 10(23BBC) of the Income Tax Act provides a tax exemption for the income of the SAARC Fund for...
Order No. [F. No. 225/235/2024/ITA-II] Dated 31st January, 2025
MINISTRY OF FINANCE
(Department of Revenue)
Order...
Section 10(10A) of the Income Tax Act in India relates to the tax treatment of payments made in commutation...
Sukanya Samriddhi Account is a Government of India backed saving scheme targeted at the parents of girl...
Under Section 237 of the Income Tax Act, 1961, the following persons are entitled to claim a refund of...
1. Unexplained Cash Credits [Section 68]
Where any sum is found credited in the books of an assessee,...
Leave salary, or leave encashment, refers to the payment an employee receives for unused leave days....
Section 115JH of the Income Tax Act, 1961, provides transitional and computational rules for foreign...
Under the Explanation to section 288(2), an “accountant” means a chartered accountant within...
Gratuity is a significant part of an employee’s remuneration package. It is a payment made by an employer...
The Faceless Appeal Scheme, 2021, introduced via Notification No. 139/2021 dated 28th December 2021,...
As already discussed, motor car/other vehicles, provided by the employer, is a perquisite only for specified...
Section 194E of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payments made to non-resident...
Section 234C of the Income Tax Act, 1961, pertains to the levy of interest for deferment of advance tax....
Here’s a detailed explanation of Penalty under Section 271AAB(1A) of the Income Tax Act, 1961, applicable...
Unrealised rent refers to rental income that is due but not received from a tenant. The Income Tax Act,...
1. Applicability
Section 56(2)(ii) covers rental income from:
Machinery
Plant(equipment, tools, vehicles)
Furniture
when not...
The Sukanya Samriddhi Account is a popular savings scheme in India that aims to promote the education...