Here’s a detailed analysis of Section 139AA of the Income Tax Act, 1961, which mandates the quoting and...
Section 10(10A) of the Income Tax Act in India relates to the tax treatment of payments made in commutation...
S.O. 614(E).-In exercise of the powers conferred by sub-section (2) of section 168 of Finance Act, 2016...
Income from salaries is taxable under Sections 15-17 of the Income Tax Act, 1961. It includes all remuneration...
Under Section 139(4B) of the Income Tax Act, 1961, political parties in India are mandatorily required to...
Applicable to: Individual taxpayers
This section provides a deduction for interest paid on loans taken...
Here’s a detailed breakdown of the tax rates on long-term capital gains (LTCG) for assets not covered...
Understanding Section 10(8A)
Section 10(8A) provides full tax exemption on remuneration received by:
Non-Indian...
Section 9 of the Income Tax Act, 1961 is an important provision that deals with the taxation of income...
1. Legal Definitions
A. “Seller” (Section 206C(1))
Who is a Seller?
Any person/entity(individual,...
Applicable to: Manufacturing, SMEs, and select service providers
This section provides partial to full...
Section 10(10CC) of the Income Tax Act, 1961 deals with the taxation of non-monetary perquisites provided...
Section 56(2)(viib) of the Income Tax Act, 1961, is a provision that pertains to closely-held companies...
Here’s a detailed breakdown of Section 271AAD of the Income Tax Act, 1961, which imposes penalties for...
The Government of India’s Department of Posts, Ministry of Communications, offers fixed deposit accounts...
1. Rationalization of provisions of TDS on sale of immovable property [Section 194-IA amended w.e.f....
Section 196B of the Income Tax Act, 1961 governs the Tax Deducted at Source (TDS) on income paid to non-residents or foreign...
1. Key Features of Section 69
Objective: Targets unexplained investments(e.g., property, gold, shares)...
Here’s a detailed summary of the treatment of ULIPs (Unit-Linked Insurance Plans) as capital gains under...
Section 194H of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payments made as commission...