A recognized provident fund is a retirement savings scheme that is approved by the government. It is...
Term life insurance, also known as pure life insurance, is a type of life insurance that guarantees payment...
Section 10(4F) of the Income Tax Act, 1961 in India provides an exemption for income earned by a non-resident...
Form 10-IEA is a crucial document for taxpayers for AY 2024-2025 and onwards. It allows individuals and...
Death-cum-Retirement Gratuity is an important financial benefit provided to employees in India. It is...
Section 45(1) of the Income Tax Act, 1961 is the foundational provision that defines how and when capital...
CBDT issues clarification in respect of Income-tax clearance certificate (ITCC)-Press Release by PIB
Ministry of Finance
CBDT issues clarification in respect of Income-tax clearance certificate (ITCC)
It...
Section 234C of the Income Tax Act, 1961, pertains to the levy of interest for deferment of advance tax....
The Government of India has introduced a new Amnesty Scheme under GST, notified via Notification No. 17/2024 –...
Tax on distributed income of domestic company for buy-back of shares
Special provisions relating to tax...
Section 72 of the Income Tax Act, 1961, governs the carry forward and set-off of business losses, allowing...
Section 143(1) of the Income Tax Act, 1961 governs the automated processing of income tax returns by...
Purpose:
This section provides a full tax exemption on pension received by government employees (or their...
A. Purpose of CRS and FATCA
In this globalized economy, tax transparency and compliance has become paramount...
Section 10(1) of the Income Tax Act, 1961, provides a full exemption for agricultural income, meaning...
1. Introduction to Section 70 –
The Indian Income Tax Act, 1961, provides various provisions for...
1. Purpose of Section 115JAA
Allows companies to claim creditfor excess MAT paid (when MAT > normal...
Section 10(4) of the Income Tax Act, 1961 in India provides an exemption for certain types of interest...
HRA (House Rent Allowance) is a salary component that helps employees cover rental expenses. Under Section...
Section 194T, introduced by the Finance (No. 2) Bill, 2024, is effective from April 1, 2025. This section...