The provisions of Finance (No. 2) Bill, 2024 (hereafter referred to as “the Bill”), relating...
Order No. [F. No. 225/235/2024/ITA-II] Dated 31st January, 2025
MINISTRY OF FINANCE
(Department of Revenue)
Order...
(1) Unit Linked Insurance Policies (ULIPs) have gained popularity as a dual investment-cum-insurance...
List of all Other Deductions which are specified under section 36 of the Indian Income Tax Act,1961,...
1. Definition & Applicability
Entertainment Allowance is a special allowance given to employees to...
Under Section 10(17A) of the Income Tax Act, any award or reward received by an individual in recognition...
Here’s a detailed explanation of Section 269T of the Income Tax Act, 1961, which governs the mode of...
Section 16 allows three key deductions from gross salary income before computing taxable salary. These...
Sovereign Gold Bonds (SGBs) are government securities denominated in grams of gold. They are substitutes...
Section 15 of the Income Tax Act, 1961 defines what constitutes taxable salary income and specifies the...
Section 10(25A) of the Income Tax Act provides a complete tax exemption for any income of the Employees’...
Section 10(23FBA) of the Income Tax Act provides a targeted tax exemption for investment funds—but with...
Section 10(23AAB) of the Income Tax Act provides an exemption for income of a pension fund set up by:
Life...
TDS on Salary (Section 192) and TDS on Provident Fund (Section 192A) are provisions under the Income...
A format to compute the capital gain is given below:
Computation of Short-term Capital Gains
Full...
In the intricate landscape of Goods and Services Tax (GST), the concepts of zero-rated supply and export...
Here’s a detailed breakdown of the collection and recovery of Equalisation Levy (EL) under Sections 166...
Section 13 of the Income Tax Act, 1961 specifies situations where the tax exemptions under Section 11...
The Indian Income Tax Act, 1961, governs the taxation of various sources of income in India. One such...