Section 194-IC of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on monetary payments...
Overview of Section 112A
Section 112A of the Income Tax Act, 1961 governs the taxation of long-term capital...
Capital assets are classified into different categories under the Income Tax Act, 1961, each with unique...
Section 139B of the Income Tax Act, 1961, allows taxpayers to file their income tax returns through authorized...
Section 80QQB of the Income Tax Act provides a deduction in respect of royalty income earned by authors....
Applicable to: Individuals
This section allows a deduction for contributions made to approved pension...
Here’s a detailed explanation of the Procedure for Imposing Penalty under Section 274 of the Income Tax...
1. Definition & Applicability
Entertainment Allowance is a special allowance given to employees to...
Under the Income Tax Act, brought forward losses must be set off against eligible income in the immediately...
I start with GST. It has decreased tax incidence on the common man; reduced compliance burden and logistics...
To establish a legally valid charitable or religious trust, follow these key steps under Indian law:
1....
INTRODUCTION:
Form 15CA and Form 15CB are essential documents under the Income Tax Act, 1961, for foreign...
1. Who is Exempt?
Resident Individuals aged 60 years or above(Senior Citizens).
Condition: Must not...
Here’s a detailed explanation of tax relief under Section 89(1) read with Rule 21A of the Income Tax...
Under Section 17(2) of the Income Tax Act, 1961, certain perquisites are taxable only for “specified...
Section 72 of the Income Tax Act, 1961, governs the carry forward and set-off of business losses, allowing...
Discover Section 44BBD Presumptive Tax — India’s New Presumptive Tax Scheme for Non-Residents Serving...
Section 92 of The Income Tax Act 1961, states that any income, expenditure interest & allocation...
Under the Income Tax Act, 1961, certain transactions involving capital assets are excluded from the definition...
Here’s a detailed explanation of the taxability of dividends under Section 56(2)(i) as “Income...