Section 10(44) of the Income Tax Act, 1961 provides for exemption from income tax in India in respect...
Chargeability/Scope/Meaning of Income under the head “Profits and Gains of Business and Profession” under...
Under Section 56(2)(ib) of the Indian Income Tax Act, 1961, income from winnings is subject to taxation....
An individual may either be a:
(a) Resident in India; or
(b) Deemed to be Resident In India...
(A) Providing Tax Relief
A.1 Substantial relief is proposed under the new tax regime with new slabs and...
To establish a legally valid charitable or religious trust, follow these key steps under Indian law:
1....
1. Allowances- Income under the head Salaries
Allowance is a fixed monetary amount paid by the employer...
Section 10(6) of the Income Tax Act, 1961 provides an exemption from income tax for certain income received...
Section 74A of the Income Tax Act, 1961, provides specific rules for the treatment of losses incurred...
Applicable to: Registered Cooperative Societies
This section provides full or partial tax exemptions to...
Section 132A empowers the Income Tax Department to requisition (take custody of) books of account, documents,...
Here’s a detailed explanation of Section 271K of the Income Tax Act, 1961, which deals with penalties...
Section 36 of the Income Tax Act, 1961 lists specific deductions allowed against business income, in...
The following Essential & Basic Rules have to be kept in mind while calculating Deductions under...
1. Key Features of Section 69
Objective: Targets unexplained investments(e.g., property, gold, shares)...
Notification No. 10/2025 [F. No. 370142/26/2024-TPL] Dated 27th January, 2025
MINISTRY OF FINANCE
(Department...
Compensation received by an individual or their legal heirs in the event of a disaster is governed by...
Amendment of section 7.
151. In the Union Territory Goods and Services Tax Act, 2017 (14 of 2017.) (hereinafter...
Section 10(12A) of the Income Tax Act, 1961 provides that any amount received by an individual from the...
Introduction
The Goods and Services Tax (GST) registration process in India has seen a significant shift...