1. Provision by the employer of services of a Sweeper, a Gardener, a Watchman or Personal Attendant...
Block Assessment Under Section 158BC Consolidates Undisclosed Income From Search Cases. Learn About The...
Income from salaries is taxable under Sections 15-17 of the Income Tax Act, 1961. It includes all remuneration...
The Supreme Court of India’s decision in the case of Chief Commissioner of Central Goods and Services...
Yes, a loss can arise under “Income from House Property” due to high interest on home loans or low...
Section 285B of the Income Tax Act, 1961, mandates producers of cinematograph films and persons engaged...
Section 43B of the Income Tax Act, 1961 is a crucial provision that disallows certain expenses unless...
Section 264A of the Income Tax Act, 1961, introduced by the Taxation Laws (Relaxation and Amendment)...
Applicable to: Individuals & HUFs
This section provides tax relief for expenses incurred on the care...
Here’s a structured overview of Collection of Tax at Lower Rate under Section 206C(9), (10), (11)...
Section 230 of the Income Tax Act, 1961 mandates certain individuals to obtain a Tax Clearance Certificate...
The Indian Income Tax Act, 1961, governs the taxation of various sources of income in India. One such...
Applicable to: Enterprises engaged in infrastructure, power, telecom, SEZs, etc.
This section provides 100%...
1. Covered Entities (Section 10(23C))
The following enjoy 100% tax exemption on their income:
Funds/institutions...
The Capital Gains Accounts Scheme (CGAS) 1988 is a scheme under the Income Tax Act, 1961, in India. It...
Assessment of Charitable Organizations When Commercial Receipts Exceed 20% Threshold [Section 13(8)]
1. Key Provision (Section 13(8))
Introduced by Finance Act 2022(Effective AY 2023-24)
Applies whena...
The Income Tax Act, 1961, includes specific provisions to protect the interests of Micro, Small, and...
1. Gratuity
Gratuity is a payment made by the employer to an employee in appreciation of the past services...
Section 44AA of the Income Tax Act, 1961, mandates certain taxpayers to maintain books of accounts, while Rule...
Key Rule
When an individual converts their self-acquired property into HUF (Joint Family) property, any...