Section 10(6) of the Income Tax Act, 1961 provides tax exemptions for certain types of remuneration received...
1. Legal Definition (Section 2(14))
A capital asset means:
Property of any kind held by an assessee...
Section 144B introduces a technology-driven, faceless assessment scheme to eliminate human interface,...
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
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New...
1. Who is Exempt?
Resident Individuals aged 60 years or above(Senior Citizens).
Condition: Must not...
Introduction
Agricultural land is a significant asset in India, providing employment to many people and...
TDS on Salary (Section 192) and TDS on Provident Fund (Section 192A) are provisions under the Income...
1. Overview
Introduced: Finance Act 2021 (effective from 1st July 2021).
Purpose: Imposes higher Tax...
Under the Income Tax Act, 1961, the Commissioner of Income Tax (Exemption) [CIT(E)] has the authority...
Agricultural income holds a special position in India’s taxation system, with specific exemptions...
Section 10(44) of the Income Tax Act, 1961 provides for exemption from income tax in India in respect...
This section provides exemption for certain allowances received by employees to meet expenses incurred in...
Income from salaries is taxable under Sections 15-17 of the Income Tax Act, 1961. It includes all remuneration...
Learn What Income Is Chargeable Under Section 15 Income Tax Act 1961. Understand Due Basis Vs Receipt...
1. Agricultural Income [Section 10(1)]
As per Section 10(1) of the Income Tax Act, agricultural income...
Notification No. 05/2025 [F. No. 300196/37/2019-ITA-I] Dated 3nd January, 2025
MINISTRY OF FINANCE
(Department...
Section 139AA was introduced in the Income Tax Act, 1961, with effect from July 1, 2017, to make it mandatory...
Confused Between Assessment Year Vs Previous Year? Learn The Difference With Simple Examples, Plus How...
1. Scope of Section 56(2)(id)
This provision covers interest income from securities when:
Not chargeable...
The Goods and Services Tax (GST) Act is a comprehensive legislation that governs the taxation of goods...