Applicable to: Individuals & HUFs (for self or dependent relatives)
This section provides tax relief...
1. Applicability
Section 56(2)(ib) covers casual and non-recurring income from:
Lotteries(including...
This section provides tax exemptions on certain types of interest income earned from specified bonds,...
Section 140 of the Income Tax Act, 1961 specifies who must verify the return of income and the authorized...
Section 285BB of the Income Tax Act, 1961, mandates the Income Tax Department to provide taxpayers with...
Section 92 of The Income Tax Act 1961, states that any income, expenditure interest & allocation...
Here’s a detailed explanation of Section 206CB: Processing of Statements of Tax Collected at Source...
S.O. 1905(E) – In exercise of the powers conferred by sub-section (1) and sub-section (2) of section...
Section 10(25) of the Income Tax Act provides tax exemptions for income earned by various retirement-related...
Under Section 48 of the Income Tax Act, 1961, certain expenses incurred during the transfer of a capital...
Section 10(23ED) of the Income Tax Act provides a tax exemption for income received by an Investor Protection...
Discover The New TCS Rules April 2025. Learn About Higher LRS Thresholds, Education Loan Exemptions,...
The provisions, which are being discussed under various sub-sections of section 40A have overriding effect ...
Section 194LBC of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on income distributed...
1. Applicability
Section 56(2)(ii) covers rental income from:
Machinery
Plant(equipment, tools, vehicles)
Furniture
when not...
Section 139(4) of the Income Tax Act, 1961, allows taxpayers to file a belated return if they miss the...
Section 194LA of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payments made as...
This section provides exemption for certain allowances received by employees to meet expenses incurred in...
Applicable to: Indian Companies
This section provides 100% tax deduction for contributions made by Indian...
The Finance (No. 2) Bill, 2024, has introduced several significant amendments to the capital gains tax...