The Tax Deduction and Collection Account Number (TAN) is a 10-digit alphanumeric number issued by the...
Section 54GA of the Income Tax Act provides an exemption on capital gains arising from the transfer of...
Section 10(13A) of the Income Tax Act, 1961 provides an exemption for the House Rent Allowance (HRA) received...
Section 196B of the Income Tax Act, 1961 governs the Tax Deducted at Source (TDS) on income paid to non-residents or foreign...
Here’s a detailed summary of the treatment of ULIPs (Unit-Linked Insurance Plans) as capital gains under...
Tax incentives to International Financial Services Centre
International Financial Services Centre (IFSC)...
Overview
Section 157A of the Income Tax Act, 1961, was introduced to empower the Central Government to...
Under Section 139(4A) of the Income Tax Act, 1961, charitable and religious trusts/institutions must...
1. Applicability
Section 56(2)(ii) covers rental income from:
Machinery
Plant(equipment, tools, vehicles)
Furniture
when not...
Pensions are fixed sums of money that individuals receive at regular intervals after retirement. They...
Section 10(23BBC) of the Income Tax Act provides a tax exemption for the income of the SAARC Fund for...
As already discussed, motor car/other vehicles, provided by the employer, is a perquisite only for specified...
Section 194A mandates Tax Deducted at Source (TDS) on interest payments (excluding interest on securities)...
Section 80U of the Income Tax Act provides relief to individuals with disabilities by allowing them to...
1. Investment in Sukanya Samriddhi Yojana for Tax Saving for AY 2022-23 & 2023-24
Sukanya Samriddhi...
1. When Does This Apply?
When the taxpayer calculates their own advance tax liability(not based on the...
Notification No. 09/2025 [F. No. 370142/18/2024-TPL] Dated 21th January, 2025
MINISTRY OF FINANCE
(Department...
Section 139(4) of the Income Tax Act, 1961, allows taxpayers to file a belated return if they miss the...
Under Section 23(2) to (4) of the Income Tax Act, 1961, a self-occupied residential property (SOP) is...
Under Section 139(4B) of the Income Tax Act, 1961, political parties in India are mandatorily required to...