Understanding Section 10(8A)
Section 10(8A) provides full tax exemption on remuneration received by:
Non-Indian...
Purpose:
This section provides a full tax exemption on income earned by scientific research associations that...
The Tax Deduction and Collection Account Number (TAN) is a 10-digit alphanumeric number issued by the...
Provisions and Amendments Relating to “Goods and Service Tax (GST)” under Finance (No.2) Bill, 2024.
Note:
(a) CGST Act means Central Goods and Services Tax Act, 2017
(b) IGST Act means...
Introduced by the Finance Act, 2023, these provisions impose a “Ceasing Tax” on charitable/religious...
Section 10(46) of the Income Tax Act, 1961 provides for exemption from income tax of the specified income...
1. Legal Provision
Section 206C(4)ensures that the buyer (collectee) receives credit for the TCS amount...
1. Purpose of Section 115JAA
Allows companies to claim creditfor excess MAT paid (when MAT > normal...
Section 80DDB of the Income Tax Act in India provides a deduction for individuals and Hindu Undivided...
Here’s a detailed overview of Return of Income and Procedure of Assessment (Sections 139 to 154) under...
Section 139(5) of the Income Tax Act, 1961, allows taxpayers to correct errors or omissions in their...
Section 10(23BBH) of the Income Tax Act provides a complete tax exemption for the income of Prasar Bharati...
Section 10(13A) of the Income Tax Act, 1961 provides an exemption for the House Rent Allowance (HRA) received...
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
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New...
Section 18 of the Central Goods and Services Tax (CGST) Act, 2017, deals with the availability and eligibility...
Applicable to: All taxpayers (Individuals, HUFs, Firms, etc.)
This section provides 100% deduction for...
1. Perquisites [(Section 17(2)]-Definition
Section 17(2) of the Income-tax Act, 1961 gives an inclusive...
1. Scope of Section 56(2)(id)
This provision covers interest income from securities when:
Not chargeable...
Here’s a detailed breakdown of fully taxable allowances for the computation of salary income in India,...
The Indian Income Tax Act, 1961, governs the taxation of various sources of income in India. One such...