The deductions under Chapter VI-A (Sections 80A to 80U) are subject to certain overarching rules that...
Section 140 of the Income Tax Act, 1961 specifies who must verify the return of income and the authorized...
S.O. 1905(E) – In exercise of the powers conferred by sub-section (1) and sub-section (2) of section...
1. Scope of Total Income / Incidence of Tax [Section 5]
Total income of an assessee cannot be computed...
Section 10(1) of the Income-tax Act, 1961 exempts agricultural income from income-tax. However, net agricultural...
Income tax laws can be complex and confusing, especially when it comes to understanding the various exemptions...
Section 10(4E) of the Income Tax Act, 1961 provides an exemption from tax on income arising from the...
Section 10(23FC) of the Income Tax Act provides a tax exemption for specific types of income earned by...
Understanding the intricacies of advance tax and self-assessment tax is crucial for both compliance and...
Section 194LBB of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on income distributed...
Accommodation provided to the employee may be—
(i) unfurnished
(ii) furnished
Further, such...
1. Provision by the employer of services of a Sweeper, a Gardener, a Watchman or Personal Attendant...
1. Section 35(1A) relating to Filing Of Statement of any sum received by a Research Association, University,...
Applicable to: Individuals & HUFs (Non-Senior Citizens)
This section provides tax relief on interest...
Section 10(50) of the Income Tax Act, 1961 provides for exemption from income tax in the hands of a non-resident...
Section 50C of the Indian Income Tax Act, 1961, is applicable to the computation of capital gains in...
Gratuity is a significant part of an employee’s remuneration package. It is a payment made by an employer...
Kisan Vikas Patra is a certificate scheme from the Indian post office. It doubles a one-time investment...
Section 37(1) of the Income Tax Act, 1961 is a crucial provision that allows businesses and professionals...
A Notified Institution refers to any entity or body corporate established by the Central Government or...