1. [Section 80C]: Deduction in respect of Life Insurance Premium, Deferred Annuity, Contributions to...
Section 273AA of the Income Tax Act, 1961, empowers the Principal Commissioner or Commissioner to grant...
Section 26 of the Income Tax Act governs the taxation of income from properties jointly owned by two...
Circular No. 07/2024 [F. No.173/25/2024-ITA-I] Dated 25th April, 2024: A Detailed Analysis
The Central...
The Goods and Services Tax (GST), a comprehensive indirect tax system, has been a transformative step...
Arrears of salary refer to payments received by an employee for work done in previous financial years...
Section 54G of the Income Tax Act, 1961, provides tax exemption on capital gains arising from the transfer...
(1) Introduction to Section-72
Section 72, which deals with the carry forward and set off of business...
Section 72A of the Income Tax Act, 1961, provides exceptional relief for companies undergoing restructuring...
Notification No. 09/2025 [F. No. 370142/18/2024-TPL] Dated 21th January, 2025
MINISTRY OF FINANCE
(Department...
Here’s a detailed analysis of Section 271J of the Income Tax Act, 1961, which imposes penalties...
1. Definition & Applicability
Entertainment Allowance is a special allowance given to employees to...
Section 10(10B) of the Income Tax Act in India provides an exemption for compensation received by employees...
Section 7 of the Income Tax Act, 1961, defines certain incomes that are deemed to be received in India,...
Section 211 of the Income Tax Act, 1961, mandates the payment of advance tax in four instalments during...
Section 44AD provides a presumptive taxation scheme for small businesses, allowing them to declare income...
Section 196B of the Income Tax Act, 1961 governs the Tax Deducted at Source (TDS) on income paid to non-residents or foreign...
Under Section 17(2) of the Income Tax Act, 1961, certain perquisites are taxable only for “specified...
Being a Member of Parliament (MP) or a Member of Legislative Assembly (MLA) is a position of great responsibility....
Section 25 of the Income Tax Act lays down a specific disallowance: certain types of interest payments...