1. Basic Rule for HUF Residency
A HUF is Resident in India if:
“Control and management of its affairs...
Section 10(11A) provides full tax exemption on withdrawals from a Sukanya Samriddhi Account (SSA), making...
An Electoral Trust is a unique entity that plays a crucial role in the political funding of political...
Circular No. 03/2025 [F. No. 275/107/2024-IT(B)] Dated 20th February, 2025
Government of India
Ministry...
Income referred to in Section 68, 69A, 69B, 69C and 69D which are undisclosed income and Investments...
Section 10(10D) of the Income Tax Act, 1961, provides tax exemption on the sum received under a life...
A Post Office Savings Account is one of the most popular and accessible savings accounts in India.
The...
Section 132 of the Income Tax Act, 1961, empowers the Income Tax Department to conduct search and seizure...
1. Rationalization of provisions of TDS on sale of immovable property [Section 194-IA amended w.e.f....
Annual Value is the taxable value assigned to a property for calculating “Income from House Property”....
Section 43CB of the Income Tax Act, 1961 standardizes the computation of income from construction contracts and service...
Overview of Section 112A
Section 112A of the Income Tax Act, 1961 governs the taxation of long-term capital...
Under Section 10(18) of the Income Tax Act, certain awardees and their family members are eligible for...
In the era of GST, the removal of check posts nationwide aimed to streamline the movement of goods within...
Section 10(16) of the Income Tax Act, 1961 provides exemption from income tax for scholarships granted...
Here’s a detailed explanation of Section 170 (Interest on Delayed Payment of Equalisation Levy) under...
Interest on Non-resident (External) Account (NRE) is exempt from income tax in India under Section 10(4)(ii)...
The Indian Income Tax Act, 1961 classifies taxable income under five distinct heads, with “Income...
Section 211 of the Income Tax Act, 1961, mandates the payment of advance tax in four instalments during...
Here’s a detailed breakdown of the collection and recovery of Equalisation Levy (EL) under Sections 166...