Rates of Income Tax for Assessment Year 2022-23 & 2023-24
Rates of Income Tax for Assessment Year 2022-23 & 2023-24
(A) In the case of every Individual or Hindu Undivided Family (HUF)   (A1)     If the individual...
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Amendment of Sections (Union Territory Goods and Services Tax-UTGST) under Finance Bill (No.2), 2024.
Amendment of section 7. 151.  In the Union Territory Goods and Services Tax Act, 2017 (14 of 2017.) (hereinafter...
Residential Status [Sections 5 to 9B]
Residential Status [Sections 5 to 9B]
1.  Scope of Total Income / Incidence of Tax [Section 5] Total income of an assessee cannot be computed...
Income-Tax Deduction from Salaries During the Financial Year 2024-25 Under Section 192 of the Income-Tax Act, 1961
Circular No. 03/2025 [F. No. 275/107/2024-IT(B)] Dated 20th February, 2025 Government of India Ministry...
Amendments Relating to Measures to Promote Investment and Employment under Finance (No-2) Bill-2024
Provisions and Amendments Relating to “Measures to Promote Investment and Employment” under Finance (No.2) Bill, 2024.
Tax incentives to International Financial Services Centre International Financial Services Centre (IFSC)...
Articles on Income-Tax
Major TDS Amendments Effective from 1st April 2025: A Comprehensive Overview
To simplify tax compliance and enhance the ease of doing business, the Finance Act has proposed significant...
Exempted Incomes-Section 10(13)
Any payment from an Approved Superannuation Fund [Section 10(13)]
When it comes to retirement planning, superannuation funds play a crucial role in providing financial...
Letting Out of Machinery-Plant or Furniture Section 56(2)(ii)
[Section 56(2)(ii)]: Taxability of Income from Letting Out of Machinery, Plant or Furniture
Under the Indian Income Tax Act, 1961, the taxability of income from letting out of machinery, plant,...
Exemption on Sale of Agricultural Land Under Section 54B
Exemption on Sale of Agricultural Land Under Section 54B
Introduction Section 54B of the Income Tax Act, 1961, provides an exemption on capital gains arising...
Amendments Relating to Changes in Basic Customs Duty Rates under Finance (No-2) Bill-2024
Amendments to Other Proposals Involving Changes in Basic Customs Duty Rates in Notifications under Finance (No.2) Bill, 2024.
A.   Changes in Basic Customs Duty (to be effective from 24.07.2024) S. No. Chapter, Heading, sub- heading,...
Computation of Capital Gains [Section 45(2)
[Section 45(2)] : Capital Gain on Conversion of Capital Asset into Stock-in-Trade
(1)        In the world of business and taxation, there are various provisions and regulations that govern...
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Amendment of Goods and Services Tax (Compensation to States) under Finance Bill (No.2), 2024.
Insertion of new section 8A. 153.  In the Goods and Services Tax (Compensation to States) Act, 2017 (15...
Deductions Under 'Chapter VI-A' in respect of 'Incomes' are Allowed from Section 80-IA To 80U
Deductions Under 'Chapter VI-A' in respect of 'Incomes' are Allowed from Section 80-IA To 80U
1. Section 80-IAC: Deduction in respect of Eligible Business or Eligible Start Up Understanding of Section...
Press Release by PIB- Income Tax Management
Capital Gains Taxation Simplified and Rationalised under Budget 2024-25-Press Release by PIB
Ministry of Finance CAPITAL GAINS TAXATION SIMPLIFIED AND RATIONALISED SHORT TERM GAINS TO ATTRACT A...
Central Government Notifies that No Deduction of Tax shall be made under the Provisions of Section 194Q of the Income Tax Act, 1961 – ‘03/20525’
Notification No. 03/2025 [F. No. 275/109/2024-IT(B)] Dated 2nd January, 2025 MINISTRY OF FINANCE (Department...
Orders-Circulars-Notifications-by IT Depatment
Income-Tax (Second Amendment) Rules, 2025
Notification No. 10/2025 [F. No. 370142/26/2024-TPL] Dated 27th January, 2025 MINISTRY OF FINANCE (Department...
Residential Status of an Individual [Section 6(1) - 6(1A)]
Residential Status of an Individual [Section 6(1) & 6(1A)]
An individual may either be a: (a)       Resident in India; or (b)       Deemed to be Resident In India...
Income Tax Implications on Gratuity - A Comprehensive Guide
Income Tax Implications on Gratuity: A Comprehensive Guide
Gratuity is a significant part of an employee’s remuneration package. It is a payment made by an employer...
Exempted Incomes-Section 10(44)
Exemption of income of New Pension Scheme Trust [Section 10(44)]
Section 10(44) of the Income Tax Act, 1961 provides for exemption from income tax in India in respect...
General Deductions [Section 37(1)]
General Deductions [Section 37(1)] -Profits and Gains of Business or Profession
Any expenditure (not being expenditure of the nature described in sections 30 to 36) and not of capital...
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