Section 10(10D) of the Income Tax Act, 1961, provides tax exemption on the sum received under a life...
Section 234G of the Income Tax Act, 1961, imposes a late fee on institutions, trusts, or funds that fail...
Under Section 139C of the Income Tax Act, 1961, the Central Board of Direct Taxes (CBDT) has the authority...
Section 115BAA of the Income Tax Act, 1961 provides a concessional tax rate of 22% (plus surcharge &...
Here’s a detailed breakdown of the valuation of motor car perquisites under Rule 3(2) of the Income Tax...
Section 68 is a critical anti-evasion provision that targets unexplained sums credited in a taxpayer’s...
1. Legal Provision
Section 206C(6)imposes penalties on sellers/collectors who fail to collect Tax Collected...
What are the Deemed Profits and how they chargeable to Tax as Business Income
1. Recovery against any...
1. Legal Definition
Primary Responsibility: The person legally obligated to deduct TCS/TDS under the...
Section 80TTA of the Income Tax Act, 1961 provides for a deduction in respect of interest on deposits...
Here’s a comprehensive analysis of Section 56(2)(viib) of the Income Tax Act, 1961, which taxes share...
Applicable to: Developers of Affordable Housing Projects
This section provides a 100% tax exemption on...
The National Savings Certificate (NSC) is a fixed Income Investment scheme that you can open with any...
The deductions under Chapter VI-A (Sections 80A to 80U) are subject to certain overarching rules that...
Section 79 of the Income Tax Act, 1961, imposes strict restrictions on the carry-forward and set-off...
Section 194 of the Income Tax Act, 1961, governs Tax Deducted at Source (TDS) on dividend payments made...
Here’s a detailed analysis of Section 139AA of the Income Tax Act, 1961, which mandates the quoting and...
Section 144A of the Income Tax Act, 1961, empowers the Joint Commissioner (JCIT) to intervene in pending...
Section 206C(1G) of the Income Tax Act, 1961 mandates Tax Collected at Source (TCS) on:
Outbound remittancesunder...
1. Overview
Under Section 210(1) of the Income Tax Act, 1961, taxpayers liable for advance tax must voluntarily...