Here’s a detailed breakdown of the collection and recovery of Equalisation Levy (EL) under Sections 166...
Under the Goods and Services Tax (GST) regime in India, certain banking-related services are either exempt...
Understanding of Section 54
When an individual sells a residential house property, they are liable to...
Section 10(1) of the Income-tax Act, 1961 exempts agricultural income from income-tax. However, net agricultural...
Section 234B(3) deals with the recalculation of interest under Section 234B when the assessed tax is...
Section 10(23AAA) of the Income Tax Act provides an exemption for income received by any person on behalf...
1. Understanding of Section 80-IBA
Section 80-IBA of the Income Tax Act, 1961, provides a deduction...
The Budget Speech for 2025-26 by Finance Minister Nirmala Sitharaman, presented in Parliament, outlines...
Section 10(4E) of the Income Tax Act, 1961 provides an exemption from tax on income arising from the...
Annual Value is the taxable value assigned to a property for calculating “Income from House Property”....
Provisions and Amendments Relating to Direct Tax Vivad se Vishwas Scheme, 2024
The Income-tax Act, 1961...
Section 10(11) of the Income Tax Act provides tax exemption on withdrawals from a Statutory Provident...
Section 40A of the Income Tax Act, 1961 specifies certain expenses or payments that cannot be deducted while...
Under Section 239 of the Income Tax Act, 1961, and related provisions, here are the key details regarding...
Income from house property is one of the five heads of income under the Income Tax Act, 1961. It applies...
Under Section 54G, the Exemption is available to all categories of assessees in respect of Capital Gain...
Section 43B of the Income Tax Act, 1961 is a crucial provision that disallows certain expenses unless...
The term “actual cost” in the context of asset acquisition plays a pivotal role in income...
Basic Rule
Under Section 64(1A), all income of a minor child (below 18 years) is automatically clubbed with...
Section 194A mandates Tax Deducted at Source (TDS) on interest payments (excluding interest on securities)...