Here’s a detailed explanation of Section 40(a)(ib) of the Income Tax Act, 1961, which deals with...
Section 169 of the Finance Act, 2016 (Chapter VIII) governs the rectification of mistakes in the context...
1. Clarification in respect of Disallowance under Section 14A in absence of any Exempt Income during...
Section 44AB of the Income Tax Act, 1961 mandates a compulsory tax audit for businesses and professionals...
Under Section 251 of the Income Tax Act, 1961, the Commissioner of Income Tax (Appeals) [CIT(A)] has wide-ranging...
Certain professionals and government employees receive special allowances that are fully or partially...
Income under the head ‘Income from House Property’ under Section 22 to 27 has been described with practical...
Under Section 249 of the Income Tax Act, 1961, along with Rules 45 and 46 of the Income Tax Rules, the...
1. Allowances- Income under the head Salaries
Allowance is a fixed monetary amount paid by the employer...
Order No. [F. No. 225/17/2025-ITA-II] Dated 28th January, 2025
MINISTRY OF FINANCE
(Department of Revenue)
To
All...
Section 59 deals with deemed income that becomes taxable under the head “Income from Other Sources” when...
1. Overview
Section 115BBD provided a concessional tax rate of 15% (plus surcharge and cess) on dividends...
Section 194D of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payments made as insurance...
Section 54GB of the Income Tax Act, 1961, provides tax exemption on long-term capital gains (LTCG) from...
Section 54GA of the Income Tax Act, 1961, provides tax exemption on capital gains when a business relocates...
Section 140A mandates taxpayers to self-assess their income, calculate tax liability, and pay any outstanding...
1. General Rule for All Non-Company Entities [Section 6(2)]
The residential status of Firms, AOPs, BOIs,...
Amendment of section 5.
147. In the Integrated Goods and Services Tax Act, 2017 (13 of 2017.) (hereinafter...
This section provides exemption for certain allowances received by employees to meet expenses incurred in...
1. Legal Basis and Purpose
Section 203Amandates obtaining a 10-digit alphanumeric TAN for entities deducting/collecting...