1. Legal Requirement
Section 206Amandates specified entities to file statements for payments made to...
Tax on Non-Agricultural Income with partial Agricultural Income
As already discussed, there is no tax...
Allowances form a significant part of salary income and are classified into three categories for tax...
Understanding of Section 56(2)(i)
In India, the taxation of dividends is governed by the provisions of...
Here’s a detailed explanation of Section 78(2) regarding carry forward and set-off of losses in...
Government of India
Department of Revenue
Ministry of Finance
Central Board of Direct Taxes
New Delhi,...
Under the Income Tax Act, individuals and Hindu Undivided Families (HUFs) have the option to be taxed...
Section 158A of the Income Tax Act, 1961, read with Rule 16 of the Income Tax Rules, 1962, provides a...
Section 154 of the Income Tax Act, 1961, allows the Assessing Officer (AO), Commissioner (Appeals), or...
Under the Goods and Services Tax (GST) regime in India, certain banking-related services are either exempt...
Section 10(10CC) of the Income Tax Act, 1961, deals with the tax treatment of non-monetary perquisites...
Here’s a detailed explanation of Section 271K of the Income Tax Act, 1961, which deals with penalties...
Section 168 of the Finance Act, 2016 (Chapter VIII) governs the processing of statements furnished under...
The Income Tax Bill 2025 will come into effect from April 1, 2026, after it is vetted by a Select Committee...
Applicable to: Individual taxpayers
This section provides a deduction for interest paid on loans taken...
An individual may either be a:
(a) Resident in India; or
(b) Deemed to be Resident In India...
Section 28 of the Income Tax Act, 1961, is a key provision that defines the types of income chargeable...
Section 79 of the Income Tax Act, 1961, imposes strict restrictions on the carry-forward and set-off...
Any expenditure (not being expenditure of the nature described in sections 30 to 36) and not of capital...
Tax on distributed income of domestic company for buy-back of shares
Special provisions relating to tax...