Section 143(1) of the Income Tax Act, 1961 governs the automated processing of income tax returns by...
The treatment of business income for a charitable or religious trust under the Income Tax Act, 1961 is...
Under the Employees’ Provident Fund (EPF) scheme, employers are required to contribute to a Recognised...
Section 234C of the Income Tax Act, 1961, pertains to the levy of interest for deferment of advance tax....
Concept:
Section 60applies when a person transfers only the right to receive income from an asset without...
Section 69D targets hundi transactions (an informal financial instrument) conducted without banking channels,...
1. Overview of Section 58
Section 58 specifies expenses that cannot be deducted while computing taxable...
As already discussed, motor car/other vehicles, provided by the employer, is a perquisite only for specified...
Learn Section 37 Business Expenditure: Which Business Expenses Are Deductible Under The Income Tax Act....
Employee Stock Option Plans (ESOPs) are popular mechanisms through which companies attract, retain, and...
Here’s a detailed breakdown of tax-free perquisites applicable to all employees under the Income Tax...
Order No. [F. No. 225/235/2024/ITA-II] Dated 31st January, 2025
MINISTRY OF FINANCE
(Department of Revenue)
Order...
Section 25A of the Income Tax Act, 1961, governs the tax treatment of arrears of rent (unpaid rent recovered...
Income tax laws in India provide various deductions and exemptions to taxpayers, helping them reduce...
Here’s a detailed explanation of Section 206CB: Processing of Statements of Tax Collected at Source...
Notification No. 08/2025 [F. No. 370153/01/2025-TPL] Dated 20th January, 2025
MINISTRY OF FINANCE
(Department...
Here’s a detailed analysis of the taxability of forfeited advance money for transfer of capital assets...
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
New Delhi,...
Section 72 of the Income Tax Act, 1961, governs the carry forward and set-off of business losses, allowing...
Applicable to: Registered Cooperative Societies
This section provides full or partial tax exemptions to...