Section 191 provides for situations where tax is not deducted at source (TDS) as required under other...
Section 44AE of the Income Tax Act, 1961 provides a simplified presumptive taxation scheme for businesses...
Section 10(23BBC) of the Income Tax Act provides a tax exemption for the income of the SAARC Fund for...
Under Section 10(35A) of the Act, any income received by an investor from a securitisation trust is exempt...
When a property is partly self-occupied (SOP) and partly let out (LOP), the Income Tax Act treats it...
Section 140A mandates taxpayers to self-assess their income, calculate tax liability, and pay any outstanding...
There are many incomes which are taxable under the head ‘Income from Other Sources’. However, section...
In India, hosting international sporting events is not only a matter of pride but also has significant...
1. Legal Basis and Purpose
Section 203Amandates obtaining a 10-digit alphanumeric TAN for entities deducting/collecting...
Section 194A mandates Tax Deducted at Source (TDS) on interest payments (excluding interest on securities)...
A Post Office Savings Account is one of the most popular and accessible savings accounts in India.
The...
Overview
Section 157A of the Income Tax Act, 1961, was introduced to empower the Central Government to...
Section 194LBB of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on income distributed...
A closely held company (where the public is not substantially interested) is subject to stricter tax...
Introduction
Agricultural land is a significant asset in India, providing employment to many people and...
Section 168 of the Finance Act, 2016 (Chapter VIII) governs the processing of statements furnished under...
Section 167 of the Finance Act, 2016 (Chapter VIII) governs the furnishing of statements for the Equalisation...
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
New Delhi,...
Permanent Account Number (PAN) is a unique ten-digit alphanumeric code issued by the Income Tax Department...
Under the Income Tax Act, 1961, individuals and Hindu Undivided Families (HUFs) can claim exemptions...