1. Section 80-IAC: Deduction in respect of Eligible Business or Eligible Start Up
Understanding of Section...
Section 10(23EA) of the Income Tax Act provides a tax exemption for income received by an Investor Protection...
The Income Tax Act, 1961, includes specific provisions to protect the interests of Micro, Small, and...
Purpose:
This section provides a tax exemption on family pension received by the widow or children of...
The Income Tax Bill 2025 will come into effect from April 1, 2026, after it is vetted by a Select Committee...
Ministry of Finance
Posted On: 22 JAN 2025 8:09PM by PIB Delh
CBDT notifies amendments in Income-tax...
An Electoral Trust is a unique entity that plays a crucial role in the political funding of political...
Income from salaries is taxable under Sections 15-17 of the Income Tax Act, 1961. It includes all remuneration...
Section 245 of the Income Tax Act, 1961 allows the Income Tax Department to adjust (set off) a taxpayer’s refund...
Income tax laws in India provide various deductions and exemptions to taxpayers, helping them reduce...
The residential status of a company is a crucial factor in determining its tax liability in India. Section...
Section 10(10AA) of the Income Tax Act, 1961 provides important tax exemptions for leave encashment (also...
Section 80C of the Income Tax Act allows individuals to claim deductions on certain investments and expenses,...
Here’s a detailed analysis of the taxability of forfeited advance money for transfer of capital assets...
Section 10(10D) provides tax exemption on amounts received from a life insurance policy, including:
Maturity...
The Finance (No. 2) Bill, 2024, introduces significant amendments to the Central Goods and Services Tax...
As per Section 54D, the Capital Gain arising from the transfer, by way of compulsory acquisition under...
Section 234E of the Income Tax Act, 1961, imposes a late filing fee for delays in submitting TDS (Tax...
Tax on Non-Agricultural Income with partial Agricultural Income
As already discussed, there is no tax...
Section 115BAA of the Income Tax Act, 1961 provides a concessional tax rate of 22% (plus surcharge &...