Section 10(6BB) of the Income Tax Act, 1961 provides a tax exemption to foreign governments or foreign...
Section 293D empowers the Central Government to implement a faceless (digital) scheme for granting approvals...
Section 194-I of the Income Tax Act, 1961, a crucial piece of legislation in India, governs the taxation...
1. Enabling the Commissioner (Appeals) to levy Penalty under Section 271AAB. 271AAC and 271AAD of the...
Under the Indian Income Tax Act, 1961, the taxability of income from letting out of machinery, plant,...
Section 10(6) of the Income Tax Act, 1961 provides tax exemptions for certain types of remuneration received...
Key Rule:
Section 61 (taxation of revocable transfers) does NOT applyif the transfer is irrevocable...
Section 10(4F) specifically applies to income earned by a non-resident from a unit of an International...
This section provides exemption for certain allowances received by employees to meet expenses incurred in...
Order No. [F. No. 225/235/2024/ITA-II] Dated 31st January, 2025
MINISTRY OF FINANCE
(Department of Revenue)
Order...
Section 245 of the Income Tax Act, 1961 allows the Income Tax Department to adjust (set off) a taxpayer’s refund...
Purpose:
This section provides a tax exemption on payments received as awards, rewards, or prizes from:
Central/State...
1. Basic Rule for HUF Residency
A HUF is Resident in India if:
“Control and management of its affairs...
1. Legal Basis
Section 206C(6A)empowers tax authorities to impose penalties under Section 221 on sellers...
Section 244A governs the payment of interest on income tax refunds to assessees. Below is a detailed...
Section 25A of the Income Tax Act, 1961, governs the tax treatment of arrears of rent (unpaid rent recovered...
The Budget 2025 proposed new tax slab rates under section 115BAC i.e., the New Tax Regime or the Default...
In the realm of Goods and Services Tax (GST), the efficient utilization and handling of Input tax credit (ITC)...
Compensation received under a Voluntary Retirement Scheme (VRS) or Voluntary Separation Scheme is partially...
Section 192A of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on premature withdrawals...