Income chargeable under the head “Income from house property” shall be computed after making...
Section 10(23BBE) of the Income Tax Act provides a complete tax exemption for the income of the Insurance...
Section 10(10CC) of the Income Tax Act, 1961, deals with the tax treatment of non-monetary perquisites...
Here’s a detailed analysis of Section 139AA of the Income Tax Act, 1961, which mandates the quoting and...
1. Purpose of Section 115JAA
Allows companies to claim creditfor excess MAT paid (when MAT > normal...
Section 28 of the Income Tax Act, 1961 defines the incomes chargeable under the head “Profits and...
1. Introduction to Section 70 –
The Indian Income Tax Act, 1961, provides various provisions for...
Section 145 of the Income Tax Act, 1961 governs the method of accounting for computing taxable income...
Section 10(23BBB)- Tax Exemption for income earned by the European Economic Community (EEC) in India
Section 10(23BBB) of the Income Tax Act provides a tax exemption for income earned by the European Economic...
Section 234B(3) deals with the recalculation of interest under Section 234B when the assessed tax is...
Enrolment Duration
Expenditure Duration
Beneficiaries
Central Outlay
Years
(lakhs)
(Rs....
The term “actual cost” in the context of asset acquisition plays a pivotal role in income...
1. Who is Liable?
Every taxpayer(individuals, HUFs, companies, firms, etc.) whose estimated tax liability for...
Get Startup Tax Exemption India guidance under Section 80-IAC. Claim a 100% tax holiday for 3 years with...
Section 10(50) of the Income Tax Act, 1961 provides for exemption from income tax in the hands of a non-resident...
1. Applicability
Section 56(2)(x) covers:
Cash gifts
Immovable property(land, buildings)
Movable property(jewelry,...
Applicable to: Individuals & HUFs
Section 80C is one of the most popular tax-saving sections, allowing...
Section 10(23FB) of the Income Tax Act provides a tax exemption for income earned by a Venture Capital...
Section 245 of the Income Tax Act, 1961 allows the Income Tax Department to adjust (set off) a taxpayer’s refund...
Section 68 is a critical anti-evasion provision that targets unexplained sums credited in a taxpayer’s...