Applicable to: First-time homebuyers of affordable housing
This section provides an enhanced tax benefit for...
Section 10(6BB) of the Income Tax Act, 1961 provides a tax exemption to foreign governments or foreign...
1. Section 35(1A) relating to Filing Of Statement of any sum received by a Research Association, University,...
Section 79 of the Income Tax Act, 1961, imposes strict restrictions on the carry-forward and set-off...
Applicable to: Individual taxpayers
This section provides a deduction for interest paid on loans taken...
Section 10(23F) of the Income Tax Act provided a tax exemption for dividends and long-term capital gains...
Certain professionals and government employees receive special allowances that are fully or partially...
Section 10(23BBH) of the Income Tax Act provides a complete tax exemption for the income of Prasar Bharati...
Here’s a structured table summarizing the penal provisions related to Tax Collected at Source (TCS) under Sections...
Notification No. 03/2025 [F. No. 275/109/2024-IT(B)] Dated 2nd January, 2025
MINISTRY OF FINANCE
(Department...
1. Perquisites [(Section 17(2)]-Definition
Section 17(2) of the Income-tax Act, 1961 gives an inclusive...
1. Primary Responsibilities of Deductor
Tax Deduction at Source:
Must deduct correct % as per Income...
Here’s a structured summary of the key amendments related to deduction on remuneration paid to partners introduced...
An Association of Persons (AOP), whether incorporated or not, is treated as a `person` under section...
Section 10(10B) of the Income Tax Act, 1961 provides important tax relief for workmen who receive compensation...
Under Section 10(17A) of the Income Tax Act, any award or reward received by an individual in recognition...
Agricultural income and its tax treatment in India fall under Section 10(1) of the Income Tax Act, 1961....
Section 10(10D) of the Income Tax Act, 1961, provides tax exemption on the sum received under a life...
1. Basic Concept of HUF
An HUF (Hindu Undivided Family) is a separate legal entity for tax purposes,...
1. Key Features of Section 69
Objective: Targets unexplained investments(e.g., property, gold, shares)...