Section 142B of the Income Tax Act, 1961 empowers the Central Government to make schemes for faceless...
1. Section 35(1A) relating to Filing Of Statement of any sum received by a Research Association, University,...
Section 36 of the Income Tax Act, 1961 lists specific deductions allowed against business income, in...
Perquisites under Section 17(2) of the Income Tax Act, 1961, are additional benefits or amenities provided...
Accommodation provided to the employee may be—
(i) unfurnished
(ii) furnished
Further, such...
Section 80C of the Income Tax Act allows individuals to claim deductions on certain investments and expenses,...
Section 10(4C) of the Income Tax Act, 1961 in India provides an exemption for interest income earned...
1. Legal Provision
Section 206C(4)ensures that the buyer (collectee) receives credit for the TCS amount...
1. Legal Status of Default
Deductor becomes “Assessee in Default”for:
Failure to deduct...
Applicable to: DPIIT-recognized startups (Private Companies/LLPs)
This section provides a 100% tax deduction...
Term life insurance, also known as pure life insurance, is a type of life insurance that guarantees payment...
Section 283 of the Income Tax Act, 1961, provides special rules for serving notices when:
A Hindu Undivided...
Applicable to: Manufacturing, SMEs, and select service providers
This section provides partial to full...
Section 284 of the Income Tax Act, 1961, governs how notices, orders, or summons must be served when...
Under Section 23(2) to (4) of the Income Tax Act, 1961, a self-occupied residential property (SOP) is...
Section 10(2) of the Income Tax Act, 1961, provides a tax exemption for sums received by a member of...
Applicable to: Enterprises engaged in infrastructure, power, telecom, SEZs, etc.
This section provides 100%...
Form 10-IEA is a crucial document for taxpayers for AY 2024-2025 and onwards. It allows individuals and...
These sections govern how notices, summons, orders, and other communications must be served by the Income...
Section 10(5) of the Income Tax Act, 1961, provides an exemption for Leave Travel Concession (LTC) or Leave...