Section 197 of the Income Tax Act, 1961 provides a mechanism for taxpayers to obtain certificates for...
Section 164(2) of the Income Tax Act, 1961, deals with the taxation of discretionary trusts, including charitable...
Applicable to: First-time homebuyers of affordable housing
This section provides an enhanced tax benefit for...
1. Statutory Framework
Section 5 defines the scope of total income based on the taxpayer’s residential...
Sovereign Gold Bonds (SGBs) are government securities denominated in grams of gold. They are substitutes...
Ministry of Finance
CAPITAL GAINS TAXATION SIMPLIFIED AND RATIONALISED
SHORT TERM GAINS TO ATTRACT A...
Section 79 of the Income Tax Act, 1961, imposes strict restrictions on the carry-forward and set-off...
[Section 46A] : Capital Gains on Purchase by Company of its Own Shares or Other Specified Securities
(1) Capital gains tax is an important aspect of the Indian Income Tax Act, 1961. Section 46A of...
The Budget Speech for 2025-26 by Finance Minister Nirmala Sitharaman, presented in Parliament, outlines...
A. Legislative Changes in Customs Laws
A.1 Amendments in the Customs Act, 1962
(i) Section 28 DA is being...
Under the Income Tax Act, 1961, taxpayers have several remedies against orders passed by the Commissioner...
Section 54GB of the Income Tax Act, 1961, provides tax exemption on long-term capital gains (LTCG) from...
Section 74 of the Income Tax Act, 1961 governs the treatment of capital losses, providing specific rules...
1. Provisions of Section 79 not to apply In case of Strategic Disinvestment of Public Sector Companies...
Here we discuss all the Provisions towards Computation of Capital Gain in certain Special Cases and the...
Key Rule
When an individual converts their self-acquired property into HUF (Joint Family) property, any...
(A) Valuation of Perquisites: Sweeper, Gardener, Watchman, or Personal Attendant [Rule 3(3)]
Under Rule...
The provisions of Finance (No. 2) Bill, 2024 (hereafter referred to as “the Bill”), relating...
A closely held company (where the public is not substantially interested) is subject to stricter tax...
Section 80TTA of the Income Tax Act, 1961 provides for a deduction in respect of interest on deposits...