1. Legal Status of Default
Deductor becomes “Assessee in Default”for:
Failure to deduct...
Section 115F of the Income Tax Act, 1961, provides a tax exemption to Non-Resident Indians (NRIs) on long-term...
Section 194-IB of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on rent payments exceeding ₹50,000/month by individuals...
Chargeability/Scope/Meaning of Income under the head “Profits and Gains of Business and Profession” under...
Section 10(12A) of the Income Tax Act, 1961 provides important tax benefits for withdrawals from the...
Applicable to: All businesses (except freelancers)*
This section provides 30-60% additional wage cost...
Section 10(30) of the Income Tax Act provides a tax exemption for subsidies received by tea growers and...
The Income Tax Act, 1961, includes specific provisions to protect the interests of Micro, Small, and...
Interest incomes which are exempt under section 10(15) could be explained with the help of the following...
Section 147 empowers the Assessing Officer (AO) to reassess or recompute income that has escaped taxation in...
Section 140 of the Income Tax Act, 1961 specifies who must verify the return of income and the authorized...
The Indian Income Tax Act, 1961 classifies taxable income under five distinct heads, with “Income...
Section 139(5) of the Income Tax Act, 1961, allows taxpayers to correct errors or omissions in their...
It was introduced under chapter VIII of Finance Act, 2016. This chapter came in to force from 1st June,...
Section 10(11A) provides full tax exemption on withdrawals from a Sukanya Samriddhi Account (SSA), making...
Section 10(50) of the Income Tax Act, 1961 provides for exemption from income tax in the hands of a non-resident...
Section 10(4E) of the Income Tax Act, 1961 provides an exemption from tax on income arising from the...
Here’s a detailed summary of the treatment of ULIPs (Unit-Linked Insurance Plans) as capital gains under...
Section 10(4E) of the Income Tax Act, 1961 in India provides an exemption for income earned by a non-resident...
Section 194C of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payments made to resident...