1. Key Features of Section 69A
Objective: Targets unexplained money, jewellery, or assetsfound in possession...
Section 194C of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payments made to resident...
1. Dividend Declaration vs. Retained Earnings
Dividends:
Taxable in shareholders’ hands (10%...
Section 10(10CC) of the Income Tax Act, 1961 deals with the taxation of non-monetary perquisites provided...
1. Legal Provision
Section 206C (7)mandates that sellers/collectors must pay interest if they:
Fail...
In India, hosting international sporting events is not only a matter of pride but also has significant...
Applicable to: Individual authors/researchers (Indian residents)
This section provides tax relief on royalty...
Section 80DDB of the Income Tax Act in India provides a deduction for individuals and Hindu Undivided...
Perquisites under Section 17(2) of the Income Tax Act, 1961, are additional benefits or amenities provided...
Enrolment Duration
Expenditure Duration
Beneficiaries
Central Outlay
Years
(lakhs)
(Rs....
Section 115F of the Income Tax Act, 1961, provides a tax exemption to Non-Resident Indians (NRIs) on long-term...
1. Overview of Section 58
Section 58 specifies expenses that cannot be deducted while computing taxable...
The Income Tax Act, 1961 allows charitable and religious trusts to apply for belated registration under Section...
1. Introduction to Section 80CCD
Section 80CCD of the Indian Income Tax Act, 1961, provides for deductions...
If you missed the deadline to claim a tax refund, you may still file a delayed refund claim under specific...
Section 10(12A) of the Income Tax Act, 1961 provides important tax benefits for withdrawals from the...
Section 54G of the Income Tax Act, 1961, provides tax exemption on capital gains arising from the transfer...
Applicable to: All taxpayers (Individuals, HUFs, Firms, etc.)
This section provides 100% deduction for...
Under Section 139C of the Income Tax Act, 1961, the Central Board of Direct Taxes (CBDT) has the authority...
Applicable to: DPIIT-recognized startups (Private Companies/LLPs)
This section provides a 100% tax deduction...