Section 49 specifies how the cost of acquisition of a capital asset is determined when it is acquired...
A. Changes in Basic Customs Duty (to be effective from 24.07.2024)
S. No.
Chapter, Heading, sub-...
Purpose:
This section provides a full tax exemption on any scholarship granted to meet educational expenses,...
Section 158A of the Income Tax Act, 1961, read with Rule 16 of the Income Tax Rules, 1962, provides a...
Section 10(13) of the Income Tax Act, 1961 provides tax exemptions on payments received from an approved...
Yes, a tax audit under Section 44AB is compulsory even if the accounts are already audited under:
Other...
Section 268 of the Income Tax Act, 1961 provides a relief mechanism for taxpayers and the tax department...
I start with GST. It has decreased tax incidence on the common man; reduced compliance burden and logistics...
Here’s a detailed table summarizing the tax treatment of Provident Fund (PF) contributions, interest,...
The Goods and Services Tax (GST) Act is a comprehensive legislation that governs the taxation of goods...
Section 43CB of the Income Tax Act, 1961 standardizes the computation of income from construction contracts and service...
Under the Income Tax Act, 1961, Sections 115QA to 115QC impose a tax on distributed income when a domestic...
Understanding Section 71: Inter-Head Adjustment
Section 71 of the Income Tax Act, 1961 allows taxpayers...
To promote digital transactions, the Income Tax Act mandates certain businesses to compulsorily accept...
1. Who is Exempt?
Resident Individuals aged 60 years or above(Senior Citizens).
Condition: Must not...
When it comes to investing in mutual funds, it is important to understand the various tax implications....
Section 285B of the Income Tax Act, 1961, mandates producers of cinematograph films and persons engaged...
Yes, under Section 238 of the Income Tax Act, 1961, a person other than the assessee can claim a refund...
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
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New...
Section 10(10CC) provides a unique tax benefit where certain perquisites paid by employers are exempt...