Section 80TTB of the Income Tax Act, 1961 provides a special deduction to senior citizens in respect...
Section 10(48) of the Income Tax Act provides an exemption in respect of income received by certain foreign...
An individual may either be a:
(a) Resident in India; or
(b) Deemed to be Resident In India...
As per Part “C” of Schedule II of the Companies Act, 2013 after making following assumptions:
The...
Section 10(4F) specifically applies to income earned by a non-resident from a unit of an International...
The Income Tax Act provides multiple exemptions to reduce or eliminate capital gains tax liability if...
Section 234A(3) of the Income Tax Act, 1961, deals with interest payable when an assessee fails to file...
Section 142B of the Income Tax Act, 1961 empowers the Central Government to make schemes for faceless...
Section 10(4) of the Income Tax Act, 1961 in India provides an exemption for certain types of interest...
Here’s a detailed explanation of Section 206CB: Processing of Statements of Tax Collected at Source...
Introduction
Agricultural land is a significant asset in India, providing employment to many people and...
1. Allowances- Income under the head Salaries
Allowance is a fixed monetary amount paid by the employer...
Section 10(10D) of the Income Tax Act deals with the tax treatment of the sum assured received from a...
Here’s a detailed explanation of Section 269T of the Income Tax Act, 1961, which governs the mode of...
Section 44AD provides a presumptive taxation scheme for small businesses, allowing them to declare income...
Accommodation provided to the employee may be—
(i) unfurnished
(ii) furnished
Further, such...
1. Applicability
Section 56(2)(ii) covers rental income from:
Machinery
Plant(equipment, tools, vehicles)
Furniture
when not...
Section 10(10B) of the Income Tax Act in India provides an exemption for compensation received by employees...
Notification No. 07/2025 [F. No. 203/20/2024/ITA-II] Dated 14th January, 2025
MINISTRY OF FINANCE
(Department...
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...