Under Section 56(2)(ib) of the Indian Income Tax Act, 1961, income from winnings is subject to taxation....
1. Investment in Sukanya Samriddhi Yojana for Tax Saving for AY 2022-23 & 2023-24
Sukanya Samriddhi...
Section 10(10A) of the Income Tax Act in India relates to the tax treatment of payments made in commutation...
1. Applicability of Section 56(2)(ic)
This provision covers any sum of money received by an employer from...
Section 234C of the Income Tax Act, 1961, pertains to the levy of interest for deferment of advance tax....
Section 10(23C) of the Income Tax Act, 1961 provides for the exemption of income of certain funds of...
The Post Office has been a trusted place for depositing and transacting with money. This is especially...
Section 54EC of the Income Tax Act, 1961, provides tax exemption on long-term capital gains (LTCG) from...
Under Section 10(17A) of the Income Tax Act, any award or reward received by an individual in recognition...
To avail tax exemption under Section 11, a charitable or religious trust must satisfy the following mandatory...
Section 10(19A) of the Income Tax Act, 1961, exempts the annual value of one palace in the occupation...
(A) In the case of every Individual or Hindu Undivided Family (HUF)
(A1) If the individual...
Under Section 23(5) of the Income Tax Act, 1961, a key exemption applies to real estate developers and...
Applicable to: Indian Companies
This section provides 100% tax deduction for contributions made by Indian...
1. Overview of Section 58
Section 58 specifies expenses that cannot be deducted while computing taxable...
Section 44AB of the Income Tax Act, 1961 mandates a compulsory tax audit for businesses and professionals...
Purpose:
This section provides a tax exemption on payments made by an Indian company to a foreign entity...
1. Key Features of Section 69A
Objective: Targets unexplained money, jewellery, or assetsfound in possession...
Section 10(23EE) of the Income Tax Act provides a tax exemption for specified income of a Core Settlement...
Government of India
Department of Revenue
Ministry of Finance
Central Board of Direct Taxes
New Delhi,...