Section 59 deals with deemed income that becomes taxable under the head “Income from Other Sources” when...
Section 281B of the Income Tax Act, 1961, deals with the Provisional Attachment of Property to Protect...
Section 74 of the Income Tax Act, 1961 governs the treatment of capital losses, providing specific rules...
Under the Explanation to Section 139(9) of the Income Tax Act, 1961, a return is considered defective if...
Income arising to a shareholder on account of Buy Back of Shares is governed by Section 10(34A) of the...
Overview of Section 112
Section 112 of the Income Tax Act, 1961 governs the taxation of long-term capital...
The Finance Bill 2025, presented by Finance Minister Nirmala Sitharaman as part of the Union Budget 2025-26,...
Here’s a detailed analysis of Section 273A of the Income Tax Act, 1961, which empowers tax authorities...
Purpose:
This section provides a full tax exemption on any scholarship granted to meet educational expenses,...
The Budget 2025 has introduced enhanced threshold limits for TDS, ensuring that smaller transactions...
Under Section 240 of the Income Tax Act, 1961, refunds arising from appellate or other proceedings are...
1. Allowances- Income under the head Salaries
Allowance is a fixed monetary amount paid by the employer...
Understanding of Section 80P
Section 80P of the Income Tax Act, 1961 provides a deduction in respect...
Section 154 of the Income Tax Act, 1961, allows the Assessing Officer (AO), Commissioner (Appeals), or...
The residential status of an individual is crucial for determining tax liability in India. It classifies...
Understanding the intricacies of advance tax and self-assessment tax is crucial for both compliance and...
Learn How Total Income Under Income Tax Act Is Calculated For The 1961 Law. Discover The 5 Heads Of Income,...
Circular No. 03/2025 [F. No. 275/107/2024-IT(B)] Dated 20th February, 2025
Government of India
Ministry...
Section 241A allows the Income Tax Department to withhold refunds in certain cases, even if a taxpayer...
Section 194LA of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payments made as...