1. What is PAN?
PAN stands for Permanent Account Number. PAN is a ten-digit unique alphanumeric number...
Under Section 23(2) to (4) of the Income Tax Act, 1961, a self-occupied residential property (SOP) is...
Agricultural income and its tax treatment in India fall under Section 10(1) of the Income Tax Act, 1961....
Understanding of Section 54B
Agriculture plays a vital role in the economy of many countries, providing...
Under Section 249 of the Income Tax Act, 1961, along with Rules 45 and 46 of the Income Tax Rules, the...
Section 10(1) of the Income-tax Act, 1961 exempts agricultural income from income-tax. However, net agricultural...
Notification No. 05/2025 [F. No. 300196/37/2019-ITA-I] Dated 3nd January, 2025
MINISTRY OF FINANCE
(Department...
Understanding Section 10(8B)
Section 10(8B) provides tax exemption for income received by:
Foreign employees
Foreign...
Section 194EE of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on withdrawals from...
Circular No. 07/2024 [F. No.173/25/2024-ITA-I] Dated 25th April, 2024: A Detailed Analysis
The Central...
Rule 12 of the Income Tax Rules, 1962, prescribes the forms, conditions, and procedures for filing income...
Section 10(4E) of the Income Tax Act, 1961 provides an exemption from tax on income arising from the...
1. Clarification in respect of Disallowance under Section 14A in absence of any Exempt Income during...
Purpose:
This section provides a full tax exemption on income earned by approved news agencies that operate...
An approved research association refers to an organization that is primarily engaged in scientific research....
Section 10(23FC) of the Income Tax Act provides a tax exemption for specific types of income earned by...
Section 10(19) of the Income Tax Act provides an exemption for the family pension received by the family...
1. Applicability
Section 56(2)(ib) covers casual and non-recurring income from:
Lotteries(including...
Section 115F of the Income Tax Act, 1961, provides a tax exemption to Non-Resident Indians (NRIs) on long-term...
Enrolment Duration
Expenditure Duration
Beneficiaries
Central Outlay
Years
(lakhs)
(Rs....