1. Business [Section 2(13)]
Business includes:
Any trade, commerce, or manufacturing activity;
Any adventure...
Section 10(23BBE) of the Income Tax Act provides a complete tax exemption for the income of the Insurance...
Section 36 of the Income Tax Act, 1961 lists specific deductions allowed against business income, in...
Under Section 10(35A) of the Act, any income received by an investor from a securitisation trust is exempt...
Section 234A(4) of the Income Tax Act, 1961, deals with the adjustment of interest when there is a subsequent revision,...
While the income from other sources is taxable, there are certain amounts that are not deductible while...
Section 10(26) of the Income Tax Act provides a tax exemption for members of Scheduled Tribes residing...
To establish a legally valid charitable or religious trust, follow these key steps under Indian law:
1....
Section 230 of the Income Tax Act, 1961 mandates certain individuals to obtain a Tax Clearance Certificate...
It was introduced under chapter VIII of Finance Act, 2016. This chapter came in to force from 1st June,...
Suo Moto Cancellation of registration may be initiated by the Tax Official for various situations as...
Concept:
Section 60applies when a person transfers only the right to receive income from an asset without...
Under the Income Tax Act, 1961, the right to claim a refund depends on who has paid the excess tax and...
Section 43CB of the Income Tax Act, 1961 standardizes the computation of income from construction contracts and service...
Section 115JB ensures that companies with substantial book profits but low or no taxable income (due...
Applicable to: DPIIT-recognized startups (Private Companies/LLPs)
This section provides a 100% tax deduction...
Here’s a detailed analysis of Section 275 of the Income Tax Act, 1961, which governs the time limits...
Here’s a detailed explanation of the Procedure for Imposing Penalty under Section 274 of the Income Tax...
1. Overview
Legal Provision: Allows TCS collectorsto file a correction statement to rectify errors in...
Under Section 237 of the Income Tax Act, 1961, the following persons are entitled to claim a refund of...