1. [Section 80C]: Deduction in respect of Life Insurance Premium, Deferred Annuity, Contributions to...
Section 80JJAA of the Indian Income Tax Act, 1961 provides a valuable deduction for employers who create...
Understanding of Capital Gain
When it comes to the transfer of shares or debentures by non-residents,...
1. Key Provision
Section 37(2B)of the Income Tax Act, 1961, disallows any deduction for expenses incurred...
Section 194N of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on cash withdrawals exceeding...
1. Gratuity
Gratuity is a payment made by the employer to an employee in appreciation of the past services...
Here’s a detailed analysis of Section 271J of the Income Tax Act, 1961, which imposes penalties...
Income tax laws in India provide various deductions and exemptions to taxpayers, helping them reduce...
Section 10(6) of the Income Tax Act, 1961 provides tax exemptions for certain types of remuneration received...
1. Legal Requirement
Section 206Amandates specified entities to file statements for payments made to...
Developmental financing institutions play a crucial role in promoting economic growth and development...
Section 10(10CC) provides a unique tax benefit where certain perquisites paid by employers are exempt...
Purpose:
This section provides full tax exemption on certain allowances received by:
Members of Parliament...
Special Provisions for computing Business income in certain cases on the basis of Estimated Income Method...
Section 10(6B) of the Income Tax Act, 1961, provides a tax exemption to non-residents (including foreign...
Overview
Section 157A of the Income Tax Act, 1961, was introduced to empower the Central Government to...
Under the Income Tax Act, 1961, the right to claim a refund depends on who has paid the excess tax and...
“Deemed profits” are amounts that aren’t traditional business income, but are still taxed as business...
The Equalisation Levy in India, governed by Chapter VIII of the Finance Act, 2016, imposes a tax on certain...
Section 139AA was introduced in the Income Tax Act, 1961, with effect from July 1, 2017, to make it mandatory...