Here’s a detailed analysis of Section 139AA of the Income Tax Act, 1961, which mandates the quoting and...
While the income from other sources is taxable, there are certain amounts that are not deductible while...
Notification No. 13/2025 [F. No.370142/9/2024-TPL] Dated 07th February, 2025
MINISTRY OF FINANCE
(Department...
The National Savings Certificate (NSC) is a fixed Income Investment scheme that you can open with any...
Chapter VI-A of the Income Tax Act, 1961, provides various deductions from Gross Total Income (GTI) to...
In the realm of tax enforcement, the power of inspection, search, and seizure plays a pivotal role in...
It was introduced under chapter VIII of Finance Act, 2016. This chapter came in to force from 1st June,...
The Post Office has been a trusted place for depositing and transacting with money. This is especially...
Notification No. 10/2025 [F. No. 370142/26/2024-TPL] Dated 27th January, 2025
MINISTRY OF FINANCE
(Department...
Section 142 empowers the Assessing Officer (AO) to conduct a preliminary inquiry before finalizing an...
Section 115JB(2) mandates that the Statement of Profit & Loss (P&L) for MAT computation must...
Sovereign Gold Bonds (SGBs) are government securities denominated in grams of gold. They are substitutes...
Applicable to: Registered Cooperative Societies
This section provides full or partial tax exemptions to...
PARTICULARS
AMOUNT (₹)
REMARKS
Gross Receipts (Sales/Fees)
XXX
Total business income
Less: Cost...
1. Individual and HUF Applicants who are Citizens of India and Located Within and Outside India at the...
Section 194B of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on winnings from games...
1. Who is Exempt?
Resident Individuals aged 60 years or above(Senior Citizens).
Condition: Must not...
Section 10(23C) of the Income Tax Act provides tax exemption to certain funds, institutions, universities,...
1. Overview
Under Section 210(1) of the Income Tax Act, 1961, taxpayers liable for advance tax must voluntarily...
Under Section 10(35A) of the Act, any income received by an investor from a securitisation trust is exempt...