Under the Income Tax Act, 1961, individuals and Hindu Undivided Families (HUFs) can claim exemptions...
1. [Section 56(2)]: List of Incomes included under ‘Income from Other Sources’
There are many incomes...
1. Legal Requirement
Section 206Amandates specified entities to file statements for payments made to...
Section 54GB of the Income Tax Act, 1961 in India provides for the exemption of long-term capital gains...
Here’s a detailed explanation of the taxability of dividends under Section 56(2)(i) as “Income...
Section 10(10D) of the Income Tax Act deals with the tax treatment of the sum assured received from a...
Section 10(4D) of the Income Tax Act, 1961 in India provides an exemption for certain income earned by...
Applicable to: Manufacturing, SMEs, and select service providers
This section provides partial to full...
Section 10(23FF) of the Income Tax Act provides a targeted capital gains exemption for non-residents...
Overview of Section 112A
Section 112A of the Income Tax Act, 1961 governs the taxation of long-term capital...
Section 194C of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payments made to resident...
Section 211 of the Income Tax Act, 1961, mandates the payment of advance tax in four instalments during...
1. Introduction of Block Assessment Provisions in cases of Search under Section 132 and Requisition under...
as per Part “C” of Schedule II of the Companies Act, 2013 after making following assumptions:
The...
Here’s a detailed breakdown of the valuation of motor car perquisites under Rule 3(2) of the Income Tax...
Introduction
The people of India have reposed their faith in the government led by the Hon’ble Prime...
A Post Office Savings Account is one of the most popular and accessible savings accounts in India.
The...
Under Section 139(4D) of the Income Tax Act, 1961, research institutions engaged in scientific, social,...
Introduction
Agricultural land is a significant asset in India, providing employment to many people and...
Under the Income Tax Act, 1961, Sections 115QA to 115QC impose a tax on distributed income when a domestic...