Section 10(23F) of the Income Tax Act provided a tax exemption for dividends and long-term capital gains...
Section 156 of the Income Tax Act, 1961, governs the issuance of demand notices by the Assessing Officer...
Here’s a detailed breakdown of the valuation of motor car perquisites under Rule 3(2) of the Income Tax...
1. Provisions of Section 79 not to apply In case of Strategic Disinvestment of Public Sector Companies...
Section 194BB of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on winnings from horse...
Section 50C of the Indian Income Tax Act, 1961, is applicable to the computation of capital gains in...
1. When Does This Apply?
When the taxpayer calculates their own advance tax liability(not based on the...
The Income Tax Appellate Tribunal (ITAT) is the final fact-finding authority under the Income Tax Act,...
Section 10(5) of the Income Tax Act, 1961, provides an exemption for Leave Travel Concession (LTC) or Leave...
The Income Tax Act, 1961 provides detailed provisions under Sections 70 to 80 for setting off and carrying...
Where any person receives at any time during any previous year any money or other assets under an insurance...
Section 234C of the Income Tax Act, 1961 imposes interest for deferring advance tax payments beyond the...
HRA (House Rent Allowance) is a salary component that helps employees cover rental expenses. Under Section...
Voluntary Retirement Scheme (VRS) is a mechanism used by companies to reduce their workforce by offering...
Under the Explanation to section 288(2), an “accountant” means a chartered accountant within...
House Rent Allowance (HRA) is a common component of most employees’ salary packages. It is provided...
Here’s a detailed breakdown of incomes exempt under Section 11 of the Income Tax Act, 1961, for charitable...
Understanding of Section 54
When an individual sells a residential house property, they are liable to...
Section 10(12B) of the Income Tax Act, 1961 provides tax exemption to partial withdrawals from the National...
PARTICULARS
AMOUNT (₹)
REMARKS
Gross Receipts (Sales/Fees)
XXX
Total business income
Less: Cost...