Section 115JB(4) of the Income Tax Act, 1961, mandates that companies liable for Minimum Alternate Tax...
Section 7 of the Income Tax Act, 1961, defines certain incomes that are deemed to be received in India,...
Section 10(10B) of the Income Tax Act in India provides an exemption for compensation received by employees...
Section 25 of the Income Tax Act lays down a specific disallowance: certain types of interest payments...
Kisan Vikas Patra is a certificate scheme from the Indian post office. It doubles a one-time investment...
Following goods are being exempted from levy of Social Welfare Surcharge
S. No.
Description
1.
Natural...
1. Unexplained Cash Credits [Section 68]
Where any sum is found credited in the books of an assessee,...
A Post Office Savings Account is one of the most popular and accessible savings accounts in India.
The...
Section 194-O of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payments made by e-commerce...
Applicable to: Salaried (without HRA) & Self-Employed Individuals
This section provides tax relief...
Section 115JB mandates that companies calculate Minimum Alternate Tax (MAT) based on book profits (derived...
Introduction
Section 54B of the Income Tax Act, 1961, provides an exemption on capital gains arising...
Section 44AE of the Income Tax Act, 1961 provides a simplified presumptive taxation scheme for businesses...
Learn The New Partner Remuneration Deduction Limits Under Section 40(B) And TDS Rules Under Section 194T...
Capital assets are classified into different categories under the Income Tax Act, 1961, each with unique...
Explanation (iii) to Section 48 of the Income Tax Act, 1961, defines the indexed cost of acquisition for...
Section 73A of the Income Tax Act, 1961, governs the treatment of losses incurred in specified businesses under Section...
1. Overview
Section 293C of the Income Tax Act, 1961 empowers the Central Government to withdraw approvals...
Section 194-IC of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on monetary payments...
The provisions, which are being discussed under various sub-sections of section 40A have overriding effect ...