1. Who is Exempt?
Resident Individuals aged 60 years or above(Senior Citizens).
Condition: Must not...
Section 80JJAA of the Indian Income Tax Act, 1961 provides a valuable deduction for employers who create...
Under the Income Tax Act, 1961, the right to claim a refund depends on who has paid the excess tax and...
Retirement planning is crucial for employees to ensure financial security post-retirement while minimizing...
Income chargeable under the head “Income from house property” shall be computed after making...
Section 194N of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on cash withdrawals exceeding...
Section 194-I of the Income Tax Act, 1961, a crucial piece of legislation in India, governs the taxation...
Section 158A of the Income Tax Act, 1961, read with Rule 16 of the Income Tax Rules, 1962, provides a...
Section 196D of the Income Tax Act, 1961 governs the Tax Deducted at Source (TDS) on income earned by Foreign...
Section 194EE of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on withdrawals from...
Here’s a detailed explanation of Penalty under Section 271AAB(1A) of the Income Tax Act, 1961, applicable...
1. Computation of Income under the head Income from “Salaries”
The first head of income is...
Section 10(4G) of the Income Tax Act, 1961 in India provides an exemption for certain income earned by...
Section 10(23C) of the Income Tax Act provides tax exemption to certain funds, institutions, universities,...
Here’s a detailed analysis of Immunity under Section 270AA of the Income Tax Act, 1961, which protects...
Under Section 23(2) to (4) of the Income Tax Act, 1961, a self-occupied residential property (SOP) is...
Section 10(10AA) of the Income Tax Act, 1961 provides important tax exemptions for leave encashment (also...
1. Mandatory E-Filing Requirement
All tax deductorsmust electronically file quarterly TDS statements
Applies...
The Central Board of Direct Taxes (CBDT) has issued Notification No. 2 of 2024, which addresses the time...
Section 38 of the Income Tax Act, 1961 governs deductions for depreciation and other expenses related...