1. Perquisites [(Section 17(2)]-Definition
Section 17(2) of the Income-tax Act, 1961 gives an inclusive...
Section 10(24) of the Income Tax Act provides a tax exemption for certain types of income earned by registered...
Applicable to: Registered Cooperative Societies
This section provides full or partial tax exemptions to...
The Goods and Services Tax (GST), a comprehensive indirect tax system, has been a transformative step...
Section 10(23BBH) of the Income Tax Act provides a complete tax exemption for the income of Prasar Bharati...
Applicable to: Individuals & HUFs (for self or dependent relatives)
This section provides tax relief...
A Post Office Savings Account is one of the most popular and accessible savings accounts in India.
The...
Tax Treatment of Partly Agricultural and Partly Non-Agricultural Income
Tax Treatment of on Composite...
Section 115BAB of the Income Tax Act, 1961, was introduced by the Finance Act, 2019, to provide a lower...
Notification No. 07/2025 [F. No. 203/20/2024/ITA-II] Dated 14th January, 2025
MINISTRY OF FINANCE
(Department...
Section 284 of the Income Tax Act, 1961, governs how notices, orders, or summons must be served when...
According to Section 10(2A), any share of profit received by a partner from a firm is exempt from tax....
1. Legal Basis for TDS Certificates
Section 203of the Income Tax Act, 1961 mandates that every deductor must...
1. Overview
Applicability: Mandates sellersto collect Tax at Source (TCS) on receipt of sale consideration from...
Under the Income Tax Act, 1961, certain expenses are expressly disallowed while computing taxable income...
What are the Deemed Profits and how they chargeable to Tax as Business Income
1. Recovery against any...
Section 139AA was introduced in the Income Tax Act, 1961, with effect from July 1, 2017, to make it mandatory...
1. Overview
Introduced: Finance Act, 2004.
Objective: Ensure tax compliance on income from leases/licenses...
Section 10(13A) of the Income Tax Act, 1961 provides an exemption for the House Rent Allowance (HRA) received...
Under the Income Tax Act, 1961, taxpayers have several remedies against orders passed by the Commissioner...