Section 10(10CC) of the Income Tax Act, 1961, deals with the tax treatment of non-monetary perquisites...
Section 49 specifies how the cost of acquisition of a capital asset is determined when it is acquired...
Section 154 of the Income Tax Act, 1961, allows the Assessing Officer (AO), Commissioner (Appeals), or...
Section 196B of the Income Tax Act, 1961 governs the Tax Deducted at Source (TDS) on income paid to non-residents or foreign...
The commuted value of pension refers to the lump sum amount received by an employee in lieu of a portion...
(1) In the world of business and taxation, there are various provisions and regulations that govern...
As already discussed, motor car/other vehicles, provided by the employer, is a perquisite only for specified...
Section 10(23BBH) of the Income Tax Act provides a complete tax exemption for the income of Prasar Bharati...
Applicable to: *Farmer Producer Companies (FPCs) registered under Companies Act, 1956/2013*
This section...
Is one of the most well-known investment schemes offered by the India Post. While the scheme is open...
Section 234B(1) of the Income Tax Act, 1961, imposes interest if an assessee either:
Fails to pay advance...
Section 72 of the Income Tax Act, 1961, governs the carry forward and set-off of business losses, allowing...
The following benefits are taxable for all employees, irrespective of their salary or designation. These...
1. Definition of “Person” under Section 2(31)
Section 2(31) of the Income Tax Act, 1961...
Section 285B of the Income Tax Act, 1961, mandates producers of cinematograph films and persons engaged...
Section 194LD of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on interest income paid...
Under the Employees’ Provident Fund (EPF) scheme, employers are required to contribute to a Recognised...
Section 80C of the Income Tax Act allows individuals to claim deductions on certain investments and expenses,...
Section 43B- Deductions Allowed only on Actual Payment -Profits and Gains of Business and Profession
Under Section 43B, some of the Expenses are allowed and can be claimed by the Assessee only in the year...
Section 169 of the Finance Act, 2016 (Chapter VIII) governs the rectification of mistakes in the context...