This section provides tax exemptions on certain types of interest income earned from specified bonds,...
Section 80TTA of the Income Tax Act, 1961 provides for a deduction in respect of interest on deposits...
INTRODUCTION-
The Goods and Services Tax (GST) system has revolutionized taxation in India, streamlining...
[Section 46A] : Capital Gains on Purchase by Company of its Own Shares or Other Specified Securities
(1) Capital gains tax is an important aspect of the Indian Income Tax Act, 1961. Section 46A of...
Section 80GG of the Income Tax Act allows individuals to claim deductions for the rent paid when they...
Explanation (iv) to Section 48 of the Income Tax Act, 1961, governs the indexation of improvement costs for...
Understanding of Section 56(2)(i)
In India, the taxation of dividends is governed by the provisions of...
Section 54G of the Income Tax Act, 1961, provides tax exemption on capital gains arising from the transfer...
(A) Valuation of Perquisites: Sweeper, Gardener, Watchman, or Personal Attendant [Rule 3(3)]
Under Rule...
1. Perquisites [(Section 17(2)]-Definition
Section 17(2) of the Income-tax Act, 1961 gives an inclusive...
The Income Tax Appellate Tribunal (ITAT) derives its adjudicatory powers from Section 254 of the Income...
1. Overview
Introduced: Finance Act 2021 (effective from 1st July 2021) .
Purpose: Encourage tax compliance...
When non-residents (NRIs/Foreign Investors) transfer shares/debentures of Indian companies, special tax...
Section 164(2) of the Income Tax Act, 1961, deals with the taxation of discretionary trusts, including charitable...
Section 191 provides for situations where tax is not deducted at source (TDS) as required under other...
Under Section 139(4B) of the Income Tax Act, 1961, political parties in India are mandatorily required to...
Income under the head ‘Income from House Property’ under Section 22 to 27 has been described with practical...
Ministry of Finance
HIGHLIGHTS OF THE UNION BUDGET 2024-25
Posted On: 23 JUL 2024 1:17PM by PIB Delhi
The...
Applicability:
Section 234A(1) of the Income Tax Act, 1961, levies interest if an assessee fails to file their...
1. What is Section 282A?
Section 282A mandates proper authentication of all income tax notices, orders,...