Section 10(32) of the Income Tax Act provides a modest exemption when a minor child’s income is clubbed...
Understanding of Section 54
When an individual sells a residential house property, they are liable to...
Section 195 of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payments made to non-residents...
INTRODUCTION:
Form 15CA and Form 15CB are essential documents under the Income Tax Act, 1961, for foreign...
Section 45(1) of the Income Tax Act, 1961 is the foundational provision that defines how and when capital...
Amendment of Section 2 [Total Income” for the purpose of Taxation]
3. In section 2 of the Income-tax...
Here’s a structured breakdown of the types, definitions, and residential status of companies under the Income...
The Budget Speech for 2025-26 by Finance Minister Nirmala Sitharaman, presented in Parliament, outlines...
(1) Conditions to be satisfied for applicability of Section 112A [Section 112A(1)]:
Notwithstanding...
The provisions relating to Direct Taxes for the Financial Year 2025-26 in India include several key changes...
1. Understanding the Principle of Mutuality
The principle of mutuality relates to the notion that a person...
Gratuity is a payment made by the employer to an employee in appreciation of the past services rendered...
1. When Does This Apply?
When the taxpayer calculates their own advance tax liability(not based on the...
Section 10(23EA) of the Income Tax Act provides a tax exemption for income received by an Investor Protection...
1. Provisions of Section 79 not to apply In case of Strategic Disinvestment of Public Sector Companies...
1. Applicability of Section 56(2)(ic)
This provision covers any sum of money received by an employer from...
Under the Income Tax Rules/ Act, certain taxpayers are required to get their accounts audited and submit...
Introduction
The Goods and Services Tax (GST) is a comprehensive, multi-stage, destination-based tax...
Understanding Section 10(10A)
Section 10(10A) provides tax exemption for commuted pension amounts received...
Leave salary, or leave encashment, refers to the payment an employee receives for unused leave days....