1. Perquisites [(Section 17(2)]- Income under the head Salaries
Section 17(2) of the Income-tax Act,...
Section 10(19) of the Income Tax Act provides an exemption for the family pension received by the family...
Purpose:
This section provides a tax exemption on family pension received by the widow or children of...
INTRODUCTION:
Form 15CA and Form 15CB are essential documents under the Income Tax Act, 1961, for foreign...
Under the Income Tax Act, 1961, certain transactions involving capital assets are excluded from the definition...
Section 28 of the Income Tax Act, 1961, is a key provision that defines the types of income chargeable...
1. Overview
Section 115BBD provided a concessional tax rate of 15% (plus surcharge and cess) on dividends...
1. General Rule for All Non-Company Entities [Section 6(2)]
The residential status of Firms, AOPs, BOIs,...
The provisions of Finance (No. 2) Bill, 2024 (hereafter referred to as “the Bill”), relating...
Notification No. 08/2025 [F. No. 370153/01/2025-TPL] Dated 20th January, 2025
MINISTRY OF FINANCE
(Department...
Under Section 10(4D) of the Income Tax Act, a specified fund is eligible for certain exemptions on its...
Section 10(4E) of the Income Tax Act, 1961 provides an exemption from tax on income arising from the...
1. Overview of Section 58
Section 58 specifies expenses that cannot be deducted while computing taxable...
[Section 46A] : Capital Gains on Purchase by Company of its Own Shares or Other Specified Securities
(1) Capital gains tax is an important aspect of the Indian Income Tax Act, 1961. Section 46A of...
Section 10(46) of the Income Tax Act, 1961 provides for exemption from income tax of the specified income...
Section 70 of the Income Tax Act, 1961, allows taxpayers to adjust losses from one source against income...
Section 10(23BBA) of the Income Tax Act provides a tax exemption for the income of any body or authority...
When income is clubbed under Sections 60-65 of the Income Tax Act, it is taxed under the same head as...
Ministry of Finance
HIGHLIGHTS OF THE UNION BUDGET 2024-25
Posted On: 23 JUL 2024 1:17PM by PIB Delhi
The...
When a property is partly self-occupied (SOP) and partly let out (LOP), the Income Tax Act treats it...