Applicable to: Individual taxpayers
This section provides a deduction for interest paid on loans taken...
Here’s a detailed analysis of Section 275 of the Income Tax Act, 1961, which governs the time limits...
Here’s a structured overview of Collection of Tax at Lower Rate under Section 206C(9), (10), (11)...
Circular No. 01/2025 [F. No. 500/05/2020/FT&TR-II] Dated 21st January, 2025
Government of India
Ministry...
Section 10(23DA) of the Income Tax Act provides a tax exemption for income earned by a securitisation...
Section 234B(3) deals with the recalculation of interest under Section 234B when the assessed tax is...
Understanding Section 10(7)
Section 10(7) provides a complete tax exemption for:
Allowances
Perquisites
paid outside...
Under Section 48 of the Income Tax Act, 1961, certain expenses incurred during the transfer of a capital...
Section 10(10AA) of the Income Tax Act, 1961 provides important tax exemptions for leave encashment (also...
Circular No. 03/2025 [F. No. 275/107/2024-IT(B)] Dated 20th February, 2025
Government of India
Ministry...
Section 10(4F) specifically applies to income earned by a non-resident from a unit of an International...
Section 43CA of the Income Tax Act, 1961 addresses the taxation of undervalued transactions involving business...
1. Computation of Income under the head Income from “Salaries”
The first head of income is...
Section 45(3) of the Indian Income Tax Act, 1961, deals with the taxation of capital gains arising from...
1. Introduction to Section 70 –
The Indian Income Tax Act, 1961, provides various provisions for...
Section 44AB of the Income Tax Act, 1961 mandates a compulsory tax audit for businesses and professionals...
Retirement benefits such as pension, gratuity, provident fund, and leave encashment are taxed differently...
Under the Income Tax Act, 1961, certain transactions or scenarios are treated as “deemed profits” and...
Section 10(32) of the Income Tax Act provides a modest exemption when a minor child’s income is clubbed...
Under Section 17(2) of the Income Tax Act, 1961, certain perquisites are taxable only for “specified...