The Income Tax Act, 1961, provides specific cases where TDS is not required to be deducted, even if the...
Section 54GB of the Income Tax Act, 1961 in India provides for the exemption of long-term capital gains...
Section 234G of the Income Tax Act, 1961, imposes a late fee on institutions, trusts, or funds that fail...
Section 10(13A) of the Income Tax Act, 1961 provides an exemption for the House Rent Allowance (HRA) received...
Section 10(23BBC) of the Income Tax Act provides a tax exemption for the income of the SAARC Fund for...
Section 44AB of the Income Tax Act, 1961 mandates a compulsory tax audit for businesses and professionals...
To simplify tax compliance and enhance the ease of doing business, the Finance Act has proposed significant...
Section 139B of the Income Tax Act, 1961, allows taxpayers to file their income tax returns through authorized...
1. Who is Exempt?
Resident Individuals aged 60 years or above(Senior Citizens).
Condition: Must not...
Section 54GA of the Income Tax Act, 1961, provides tax exemption on capital gains when a business relocates...
1. Overview
Legal Provision: Allows TCS collectorsto file a correction statement to rectify errors in...
1. [Section 56(2)]: List of Incomes included under ‘Income from Other Sources’
There are many incomes...
Overview of Section 112
Section 112 of the Income Tax Act, 1961 governs the taxation of long-term capital...
Section 132B governs how assets seized under Section 132 or requisitioned under Section 132A are to be utilized,...
Notification No. 04/2025 [F. No. 196/1/2023-ITA-I] Dated 3nd January, 2025
MINISTRY OF FINANCE
(Department...
Section 10(48A) of the Income Tax Act provides an exemption in respect of income earned by a foreign...
1. Firm to be Assessed as Firm
Essential conditions prescribed under section 184 of the Income-tax Act,...
Learn How Charge Of Income Tax Section 4 Functions Under The Income Tax Act, 1961. Understand Assessment...
1. Importance of Residential Status
Residential status determines:
Which incomes are taxable in India...
Section 80DDB of the Income Tax Act in India provides a deduction for individuals and Hindu Undivided...