National Pension System (NPS) is a retirement benefit Scheme introduced by the Government of India to...
Here we describe all the Provisions towards Calculation of Tax on Short-term Capital Gains under Section...
1. Overview of Section 58
Section 58 specifies expenses that cannot be deducted while computing taxable...
Section 115JB ensures that companies with substantial book profits but low or no taxable income (due...
Discover All Revised TDS Threshold Limits FY 2025-26. Learn About New Section 194T, Doubled Senior Citizen...
Understanding Section 10(8)
Section 10(8) provides tax exemption for income received by:
Foreign technicians/experts
Employees...
Section 54EC of the Income Tax Act, 1961, provides tax exemption on long-term capital gains (LTCG) from...
Section 194A mandates Tax Deducted at Source (TDS) on interest payments (excluding interest on securities)...
Learn Who Qualifies As An Assessee In Income Tax Under Section 2(7) Of The Income Tax Act. Understand...
1. Key Features of Section 69
Objective: Targets unexplained investments(e.g., property, gold, shares)...
1. Gratuity
Gratuity is a payment made by the employer to an employee in appreciation of the past services...
Section 10(23BBH) of the Income Tax Act provides a complete tax exemption for the income of Prasar Bharati...
Under Section 237 of the Income Tax Act, 1961, the following persons are entitled to claim a refund of...
Key Rule:
Section 61 (taxation of revocable transfers) does NOT applyif the transfer is irrevocable...
1. Legal Basis
Section 206C(6A)empowers tax authorities to impose penalties under Section 221 on sellers...
When a property is partly self-occupied (SOP) and partly let out (LOP), the Income Tax Act treats it...
Under the Income Tax Act, 1961, taxpayers have several remedies against orders passed by the Commissioner...
Under Section 139C of the Income Tax Act, 1961, the Central Board of Direct Taxes (CBDT) has the authority...
What are the Deemed Profits and how they chargeable to Tax as Business Income
1. Recovery against any...
Section 69D targets hundi transactions (an informal financial instrument) conducted without banking channels,...