Section 74 of the Income Tax Act, 1961 governs the treatment of capital losses, providing specific rules...
Section 10(23ED) of the Income Tax Act provides a tax exemption for income received by an Investor Protection...
Section 65 clarifies the tax liability of the transferee (recipient of income/assets) when income is...
Here’s a detailed breakdown of the collection and recovery of Equalisation Levy (EL) under Sections 166...
Certain professionals and government employees receive special allowances that are fully or partially...
[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...
1. Understanding the Principle of Mutuality
The principle of mutuality relates to the notion that a person...
Gratuity is a payment made by the employer to an employee in appreciation of the past services rendered...
Political parties play a crucial role in any democratic society. They serve as the voice of the people,...
Understanding of Section 80P
Section 80P of the Income Tax Act, 1961 provides a deduction in respect...
Section 17(3) defines “profits in lieu of salary” as payments received by an employee in...
Provident Fund (PF) is a social security scheme in India that provides financial assistance to employees...
Section 10(12A) of the Income Tax Act, 1961 provides that any amount received by an individual from the...
Section 230 of the Income Tax Act, 1961 mandates certain individuals to obtain a Tax Clearance Certificate...
Here we discuss all the Provisions towards Computation of Capital Gain in certain Special Cases and the...
1. Legal Definitions
A. “Seller” (Section 206C(1))
Who is a Seller?
Any person/entity(individual,...
Accommodation provided to the employee may be—
(i) unfurnished
(ii) furnished
Further, such...
Investment planning is an essential aspect of financial management, especially for middle-class families....
The residential status of a company is a crucial factor in determining its tax liability in India. Section...
Section 45(1) of the Income Tax Act, 1961 is the foundational provision that defines how and when capital...