Unrealised rent refers to rental income that is due but not received from a tenant. The Income Tax Act,...
Under the Income Tax Act, 1961, certain expenses are expressly disallowed while computing taxable income...
1. Overview
Under Section 210(1) of the Income Tax Act, 1961, taxpayers liable for advance tax must voluntarily...
Tax Treatment of Partly Agricultural and Partly Non-Agricultural Income
Tax Treatment of on Composite...
Introduction
The people of India have reposed their faith in the government led by the Hon’ble Prime...
Under Section 139(4B) of the Income Tax Act, 1961, political parties in India are mandatorily required to...
Section 10(23D) of the Income Tax Act provides a tax exemption for the income of certain mutual funds...
The Income Tax Appellate Tribunal (ITAT) derives its adjudicatory powers from Section 254 of the Income...
The Income Tax Act provides multiple exemptions to reduce or eliminate capital gains tax liability if...
1. Legal Definition (Section 2(14))
A capital asset means:
Property of any kind held by an assessee...
Section 43CA of the Income Tax Act, 1961 addresses the taxation of undervalued transactions involving business...
Developmental financing institutions play a crucial role in promoting economic growth and development...
Section 234E of the Income Tax Act, 1961, imposes a late filing fee for delays in submitting TDS (Tax...
Section 10(10B) of the Income Tax Act in India provides an exemption for compensation received by employees...
Section 72 of the Income Tax Act, 1961, governs the carry forward and set-off of business losses, allowing...
Here’s a detailed explanation of Penalty under Section 271AAB(1A) of the Income Tax Act, 1961, applicable...
Section 132A empowers the Income Tax Department to requisition (take custody of) books of account, documents,...
Section 192 mandates employers to deduct Tax Deducted at Source (TDS) from employees’ salaries...
Section 36 of the Income Tax Act, 1961 lists specific deductions allowed against business income, in...
Section 10(2A) of the Income Tax Act, 1961 in India exempts a partner’s share in the total income...