The rules for valuation of specified fringe benefits or amenities arc as under:
1. Interest Free Or...
Section 245MA of the Income Tax Act, 1961, introduces a faceless dispute resolution mechanism for small...
1. Basic Principle of Assessment
Clubbed income is assessed in the hands of the transferor (not the transferee)...
The Income Tax Act, 1961, includes specific provisions to protect the interests of Micro, Small, and...
Section 194EE of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on withdrawals from...
1. Overview
Introduced: Finance Act, 2004.
Objective: Ensure tax compliance on income from leases/licenses...
Section 264B of the Income Tax Act, 1961, pertains to the faceless effect of orders passed under the...
Section 194C of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payments made to resident...
1. Key Features of Section 69B
Objective: Targets underreported investmentswhere actual expenditure...
Applicable to: Indian Resident Individuals (Inventors/Patent Holders)
This section provides tax relief...
Section 10(6B) of the Income Tax Act, 1961, provides a tax exemption to non-residents (including foreign...
Section 10(12B) of the Income Tax Act, 1961 provides tax exemption to partial withdrawals from the National...
Section 168 of the Finance Act, 2016 (Chapter VIII) governs the processing of statements furnished under...
Section 142 empowers the Assessing Officer (AO) to conduct a preliminary inquiry before finalizing an...
Section 10(34A) of the Income Tax Act provides a tax exemption for shareholders on income received from...
Section 10(10B) of the Income Tax Act, 1961 provides important tax relief for workmen who receive compensation...
Provident Fund Scheme is a welfare scheme for the benefit of the employees. Under this scheme, certain...
Section 54GB of the Income Tax Act, 1961, provides tax exemption on long-term capital gains (LTCG) from...
Section 10(23BB) of the Income Tax Act provides a tax exemption for the income of a Khadi and Village...
Purpose:
This section provides full tax exemption on certain allowances received by:
Members of Parliament...