So far, we have discussed what are the various incomes, allowances and perquisites which are exempt and...
Note:
(a) “Basic Customs Duty (BCD)” means the customs duty levied under the Customs Act, 1962.
(b)...
(1) In the world of business and taxation, there are various provisions and regulations that govern...
Section 10(4B) of the Income Tax Act, 1961 in India provides an exemption for interest income earned...
Cases or situations of Tax Relief under section Section 89/Rule 21A when Salary is Paid in Arrears or...
1. General Rule for All Non-Company Entities [Section 6(2)]
The residential status of Firms, AOPs, BOIs,...
The Income Tax Law in India is a complex and ever-changing set of regulations that govern the taxation...
1. Legal Provision Overview
Section 206C(1B): Mandates that sellers(collectors of TCS) must submit buyer...
Ministry of Finance
HIGHLIGHTS OF UNION BUDGET 2025-26
Posted On: 01 FEB 2025 1:29PM by PIB Delhi
PART...
1. Clarification in respect of Disallowance under Section 14A in absence of any Exempt Income during...
Under Section 240 of the Income Tax Act, 1961, refunds arising from appellate or other proceedings are...
Section 80DDB of the Income Tax Act in India provides a deduction for individuals and Hindu Undivided...
Understanding of Section 80D
Section 80D of the Income Tax Act provides individuals with a deduction...
Pension is a periodic payment made to an employee after retirement. Under Section 17(1)(ii) of the Income...
When it comes to retirement planning, superannuation funds play a crucial role in providing financial...
Overview of Section 112
Section 112 of the Income Tax Act, 1961 governs the taxation of long-term capital...
Objective: To discourage large cash transactions and promote digital payments.
1. Key Provisions of Section...
Section 142B of the Income Tax Act, 1961 empowers the Central Government to make schemes for faceless...
Section 10(4D) of the Income Tax Act, 1961 in India provides an exemption for certain income earned by...
Ministry of Finance
GOVERNMENT MAKES NEW TAX REGIME MORE ATTRACTIVE
STANDARD REDUCTION INCREASED FROM...