Section 194G of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on commission or remuneration...
While the income from other sources is taxable, there are certain amounts that are not deductible while...
1. Understanding of Section 80-IBA
Section 80-IBA of the Income Tax Act, 1961, provides a deduction...
Section 10(4) of the Income Tax Act, 1961 in India provides an exemption for certain types of interest...
1. Legal Provision
Section 206C (7)mandates that sellers/collectors must pay interest if they:
Fail...
Under Section 10(2) of the Income Tax Act, 1961, the sum received by a member from a Hindu Undivided...
Applicable to: Indian Companies
This section provides 100% tax deduction for contributions made by Indian...
The Post Office has been a trusted place for depositing and transacting with money. This is especially...
1. Basic Framework
Companies are taxed on their total incomecomputed under the Income Tax Act, 1961.
Tax...
Explanation (iii) to Section 48 of the Income Tax Act, 1961, defines the indexed cost of acquisition for...
Section 10(10D) of the Income Tax Act deals with the tax treatment of the sum assured received from a...
Notified special allowance is an allowance that has been notified by the Central Government under Section...
Under Section 246A of the Income Tax Act, 1961, taxpayers can file an appeal before the Commissioner...
Objective: To discourage large cash transactions and promote digital payments.
1. Key Provisions of Section...
Order No. [F. No. 225/17/2025-ITA-II] Dated 28th January, 2025
MINISTRY OF FINANCE
(Department of Revenue)
To
All...
Section 10(12A) of the Income Tax Act, 1961 provides that any amount received by an individual from the...
Under Section 139(4B) of the Income Tax Act, 1961, political parties in India are mandatorily required to...
Section 38 of the Income Tax Act, 1961 governs deductions for depreciation and other expenses related...
Section 218 of the Income Tax Act, 1961 deals with situations where a taxpayer is considered to be in...
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
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