Section 45(1) of the Income Tax Act, 1961 is the foundational provision that defines how and when capital...
The deductions under Chapter VI-A (Sections 80A to 80U) are subject to certain overarching rules that...
Government of India
Department of Revenue
Ministry of Finance
Central Board of Direct Taxes
New Delhi,...
Applicable to: Individual taxpayers
This section provides a deduction for interest paid on loans taken...
1. What is PAN?
PAN stands for Permanent Account Number. PAN is a ten-digit unique alphanumeric number...
Amendment of section 5.
147. In the Integrated Goods and Services Tax Act, 2017 (13 of 2017.) (hereinafter...
Here’s a detailed explanation of the taxability of dividends under Section 56(2)(i) as “Income...
1. Automated Processing by CPC-TDS
Centralized Processing Center (CPC-TDS)processes all TDS returns
Auto-validationof...
Section 190 of the Income Tax Act, 1961, governs the provisions related to Tax Deduction at Source (TDS),...
Section 10(23D) of the Income Tax Act provides a tax exemption for the income of certain mutual funds...
Section 115JB(4) of the Income Tax Act, 1961, mandates that companies liable for Minimum Alternate Tax...
1. Perquisites [(Section 17(2)]-Definition
Section 17(2) of the Income-tax Act, 1961 gives an inclusive...
Section 219 of the Income Tax Act, 1961 governs how advance tax payments are credited against a taxpayer’s...
Section 56(1) serves as the residual head of income, capturing all taxable income that does not fall...
The Finance Bill 2025, presented by Finance Minister Nirmala Sitharaman as part of the Union Budget 2025-26,...
Here’s a detailed explanation of Section 269T of the Income Tax Act, 1961, which governs the mode of...
Agricultural income holds a special position in India’s taxation system, with specific exemptions...
Section 194M of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on certain payments made...
To promote digital transactions, the Income Tax Act mandates certain businesses to compulsorily accept...
Order No. [F. No. 225/235/2024/ITA-II] Dated 31st January, 2025
MINISTRY OF FINANCE
(Department of Revenue)
Order...