Applicable to: DPIIT-recognized startups (Private Companies/LLPs)
This section provides a 100% tax deduction...
Section 10(10D) of the Income Tax Act, 1961, provides tax exemption on the sum received under a life...
Here’s a detailed explanation of Section 40(a)(ib) of the Income Tax Act, 1961, which deals with...
If you missed the deadline to claim a tax refund, you may still file a delayed refund claim under specific...
1. Section 35(1A) relating to Filing Of Statement of any sum received by a Research Association, University,...
Section 80DD of the Income Tax Act in India provides a deduction for individuals or Hindu Undivided Families...
Assessment of Charitable Organizations When Commercial Receipts Exceed 20% Threshold [Section 13(8)]
1. Key Provision (Section 13(8))
Introduced by Finance Act 2022(Effective AY 2023-24)
Applies whena...
Applicable to: Manufacturing, SMEs, and select service providers
This section provides partial to full...
A format to compute the capital gain is given below:
Computation of Short-term Capital Gains
Full...
Section 25A of the Income Tax Act, 1961, governs the tax treatment of arrears of rent (unpaid rent recovered...
Section 10(23FCA) of the Income Tax Act provides a tax exemption for rental income earned by a Real Estate...
Section 10(10C) of the Income Tax Act provides tax exemption on compensation received by an employee...
Section 194T, introduced by the Finance (No. 2) Bill, 2024, is effective from April 1, 2025. This section...
Under Section 54G, the Exemption is available to all categories of assessees in respect of Capital Gain...
Here we discuss all the Provisions towards Computation of Capital Gain in certain Special Cases and the...
Political parties play a crucial role in any democratic society. They serve as the voice of the people,...
Purpose:
This section provides a full tax exemption on any scholarship granted to meet educational expenses,...
A recognized provident fund is a retirement savings scheme that is approved by the government. It is...
Section 142 empowers the Assessing Officer (AO) to conduct a preliminary inquiry before finalizing an...
1. Legal Basis for TDS Certificates
Section 203of the Income Tax Act, 1961 mandates that every deductor must...