Applicable to: Individual authors/researchers (Indian residents)
This section provides tax relief on royalty...
Under Section 139(3) of the Income Tax Act, 1961, taxpayers can file a Return of Loss to carry forward...
Under Section 139(4C) of the Income Tax Act, 1961, specific categories of non-profit entities must file...
Overview of STCG under Section 111A
Short-term capital gains (STCG) arising from the transfer of equity...
1. Overview
Introduced: Finance Act 2021 (effective from 1st July 2021) .
Purpose: Encourage tax compliance...
Under Section 10(4D) of the Income Tax Act, a specified fund is eligible for certain exemptions on its...
Compensation received under a Voluntary Retirement Scheme (VRS) or Voluntary Separation Scheme is partially...
1. Legal Definitions
A. “Seller” (Section 206C(1))
Who is a Seller?
Any person/entity(individual,...
(1) Introduction to Section-72
Section 72, which deals with the carry forward and set off of business...
Section 73A of the Income Tax Act, 1961, governs the treatment of losses incurred in specified businesses under Section...
Income referred to in Section 68, 69A, 69B, 69C and 69D which are undisclosed income and Investments...
Yes, under Section 238 of the Income Tax Act, 1961, a person other than the assessee can claim a refund...
Key Rule:
Section 61 (taxation of revocable transfers) does NOT applyif the transfer is irrevocable...
Here’s a detailed explanation of Section 78(2) regarding carry forward and set-off of losses in...
Section 10(4E) of the Income Tax Act, 1961 in India provides an exemption for income earned by a non-resident...
Any profits or gains arising from the transfer of a capital asset effected in the previous year, shall...
Ministry of Finance
HIGHLIGHTS OF UNION BUDGET 2025-26
Posted On: 01 FEB 2025 1:29PM by PIB Delhi
PART...
1. Provision inserted under Clause ( c ) of explanation to Section 10(4D) applicable w.e.f. 2022-23
As...
Section 56(1) serves as the residual head of income, capturing all taxable income that does not fall...
Here’s a detailed explanation of Section 269SS of the Income Tax Act, 1961, which governs the mode of...