Understanding of Section 54B
Agriculture plays a vital role in the economy of many countries, providing...
The Finance (No. 2) Bill, 2024, has introduced several significant amendments to the capital gains tax...
Section 69 of the CGST Act, 2017 grants tax authorities the power to arrest individuals suspected of...
Section 10(25) of the Income Tax Act provides tax exemptions for income earned by various retirement-related...
It was introduced under chapter VIII of Finance Act, 2016. This chapter came in to force from 1st June,...
Understanding of Section 56(2)(i)
In India, the taxation of dividends is governed by the provisions of...
Section 43B- Deductions Allowed only on Actual Payment -Profits and Gains of Business and Profession
Under Section 43B, some of the Expenses are allowed and can be claimed by the Assessee only in the year...
Notified special allowance is an allowance that has been notified by the Central Government under Section...
Applicable to: Indian Companies
This section provides 100% tax deduction for contributions made by Indian...
The Inverted Duty Structure (IDS) under the Goods and Services Tax (GST) regime is a situation where...
Discover The New TCS Rules April 2025. Learn About Higher LRS Thresholds, Education Loan Exemptions,...
Applicable to: Individual taxpayers
This section provides a deduction for interest paid on loans taken...
Applicable to: Individuals & HUFs (for self or dependent relatives)
This section provides tax relief...
Section 167 of the Finance Act, 2016 (Chapter VIII) governs the furnishing of statements for the Equalisation...
Section 10(12A) of the Income Tax Act, 1961 provides important tax benefits for withdrawals from the...
Section 234A(4) of the Income Tax Act, 1961, deals with the adjustment of interest when there is a subsequent revision,...
1. Computation of Income under the head Income from “Salaries”
The first head of income is...
Section 10(4G) of the Income Tax Act, 1961 in India provides an exemption for certain income earned by...
Section 69D targets hundi transactions (an informal financial instrument) conducted without banking channels,...
This section provides exemption for certain allowances received by employees to meet expenses incurred in...