Section 10(23BBF) of the Income Tax Act provides a phased tax exemption for the North-Eastern Development...
Under the Income Tax Act, 1961, the right to claim a refund depends on who has paid the excess tax and...
In order to monitor high-value transactions conducted by taxpayers, a significant regulatory measure...
Section 285B of the Income Tax Act, 1961, mandates producers of cinematograph films and persons engaged...
1. Definition of “Person” under Section 2(31)
Section 2(31) of the Income Tax Act, 1961...
Section 28 of the Income Tax Act, 1961 defines the incomes chargeable under the head “Profits and...
Under the Income Tax Act, 1961, certain transactions or scenarios are treated as “deemed profits” and...
Understanding Section 10(10)
Section 10(10) provides tax exemption on gratuity payments received by employees....
1. Introduction of Block Assessment Provisions in cases of Search under Section 132 and Requisition under...
Assessment of Charitable Organizations When Commercial Receipts Exceed 20% Threshold [Section 13(8)]
1. Key Provision (Section 13(8))
Introduced by Finance Act 2022(Effective AY 2023-24)
Applies whena...
Section 140 of the Income Tax Act, 1961 specifies who must verify the return of income and the authorized...
Here we discuss all the Provisions towards Computation of Capital Gain in certain Special Cases and the...
Section 74A of the Income Tax Act, 1961, provides specific rules for the treatment of losses incurred...
Here’s a detailed summary of the treatment of ULIPs (Unit-Linked Insurance Plans) as capital gains under...
1. Litigation management when in an appeal by revenue an identical question of law is pending before...
HRA (House Rent Allowance) is a salary component that helps employees cover rental expenses. Under Section...
Understanding Section 10(8A)
Section 10(8A) provides full tax exemption on remuneration received by:
Non-Indian...
Under Section 139(4D) of the Income Tax Act, 1961, research institutions engaged in scientific, social,...
(A) Providing Tax Relief
A.1 Substantial relief is proposed under the new tax regime with new slabs and...
Here’s a detailed breakdown of fully taxable allowances for the computation of salary income in India,...