Tax incentives to International Financial Services Centre
International Financial Services Centre (IFSC)...
Section 43CB of the Income Tax Act, 1961 standardizes the computation of income from construction contracts and service...
Section 10(34A) of the Income Tax Act provides a tax exemption for shareholders on income received from...
Understanding of Section 56(2)(i)
In India, the taxation of dividends is governed by the provisions of...
Section 10(6D) provides a tax exemption to non-residents (other than foreign companies) on income received...
Retrenchment compensation is the amount paid to a workman (employee) at the time of termination of employment...
Understanding Section 10(8A)
Section 10(8A) provides full tax exemption on remuneration received by:
Non-Indian...
Key Rule
When an individual converts their self-acquired property into HUF (Joint Family) property, any...
Section 245 of the Income Tax Act, 1961 allows the Income Tax Department to adjust (set off) a taxpayer’s refund...
1. Legal Definition (Section 2(14))
A capital asset means:
Property of any kind held by an assessee...
Learn everything about Section 194K TDS on mutual fund dividends. Discover the new ₹10,000 threshold...
Section 10(23BBD) of the Income Tax Act provides a tax exemption for the income of the ASOSAI-SECRETARIAT—that...
(1) Introduction to Section-72
Section 72, which deals with the carry forward and set off of business...
The Goods and Services Tax (GST), a comprehensive indirect tax system, has been a transformative step...
Section 10(23FBC) of the Income Tax Act provides a tax exemption for income earned by a unit holder from...
1. Set-Off Rules for Current Year Losses
Intra-head adjustment (Section 70):
Business losses can be...
Section 72 of the Income Tax Act, 1961, governs the carry forward and set-off of business losses, allowing...
Here’s a detailed explanation of Section 269SS of the Income Tax Act, 1961, which governs the mode of...
1. What is Section 282A?
Section 282A mandates proper authentication of all income tax notices, orders,...
Here’s a detailed explanation of Penalty under Section 271H of the Income Tax Act, 1961, which applies...