Overview of Section 112A
Section 112A of the Income Tax Act, 1961 governs the taxation of long-term capital...
Section 194-IC of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on monetary payments...
Here’s a detailed analysis of the tax treatment of family pension payments received by legal heirs of...
Section 10(14) provides exemptions for certain special allowances granted to employees for specific purposes....
Section 10(23EA) of the Income Tax Act provides a tax exemption for income received by an Investor Protection...
Section 194K of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on income distributed...
Understanding of Section 54B
Agriculture plays a vital role in the economy of many countries, providing...
This section provides tax exemptions on certain types of interest income earned from specified bonds,...
Income from salaries is taxable under Sections 15-17 of the Income Tax Act, 1961. It includes all remuneration...
The Finance (No. 2) Bill, 2024, has introduced several significant amendments to the capital gains tax...
Under Explanation 1(iii) to Section 115JB(2), companies can deduct the lower of:
Brought forward losses(as...
Section 10(20) of the Income Tax Act, 1961 provides exemption from income tax for the income of a local...
Under the Income Tax Act, 1961, the following business/profession expenses are expressly allowed as deductions...
Section 54GB of the Income Tax Act, 1961, provides tax exemption on long-term capital gains (LTCG) from...
Section 139AA was introduced in the Income Tax Act, 1961, with effect from July 1, 2017, to make it mandatory...
Section 195A of the Income Tax Act, 1961, governs scenarios where the payer agrees to bear the tax liability on...
Section 168 of the Finance Act, 2016 (Chapter VIII) governs the processing of statements furnished under...
Here’s a detailed analysis of Section 273B of the Income Tax Act, 1961, which provides immunity from...
1. Basic Principle of Assessment
Clubbed income is assessed in the hands of the transferor (not the transferee)...
Section 211 of the Income Tax Act, 1961, mandates the payment of advance tax in four instalments during...