(A) Valuation of Perquisites: Sweeper, Gardener, Watchman, or Personal Attendant [Rule 3(3)]
Under Rule...
Applicable to: Individuals, HUFs, Firms, AOPs, BOIs, and others (except companies)
This section provides...
Section 144 of the Income Tax Act, 1961, empowers the Assessing Officer (AO) to determine a taxpayer’s...
Under Section 248 of the Income Tax Act, 1961, a person who denies liability to deduct tax at source...
Under Section 54G, the Exemption is available to all categories of assessees in respect of Capital Gain...
Section 241A allows the Income Tax Department to withhold refunds in certain cases, even if a taxpayer...
Section 132 of the Income Tax Act empowers tax authorities to conduct searches and seize undisclosed...
(1) Conditions to be satisfied for applicability of Section 112A [Section 112A(1)]:
Notwithstanding...
Section 194D of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payments made as insurance...
1. Scope of Section 56(2)(id)
This provision covers interest income from securities when:
Not chargeable...
Section 115F of the Income Tax Act, 1961, provides a tax exemption to Non-Resident Indians (NRIs) on long-term...
1. [Section 80C]: Deduction in respect of Life Insurance Premium, Deferred Annuity, Contributions to...
Section 194H of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payments made as commission...
Notification No. 03/2025 [F. No. 275/109/2024-IT(B)] Dated 2nd January, 2025
MINISTRY OF FINANCE
(Department...
Following Business are required to get their Accounts compulsory Tax Audited by a Chartered Accountant...
Section 25A of the Income Tax Act, 1961, governs the tax treatment of arrears of rent (unpaid rent recovered...
Section 10(13) of the Income Tax Act, 1961 provides tax exemptions on payments received from an approved...
Here’s a detailed summary of the removal of the Equalisation Levy (EL) in India, including key changes,...
Investment planning is an essential aspect of financial management, especially for middle-class families....
Here’s a structured table summarizing the extension of time limits for filing Updated Tax Returns (ITR-U)...