1. Overview
Section 115BA provides a concessional tax rate of 22% (plus surcharge & cess) for new...
In India, the Income Tax Act provides various exemptions to taxpayers to encourage investments and promote...
Section 43CB of the Income Tax Act, 1961 standardizes the computation of income from construction contracts and service...
Under Section 10(18) of the Income Tax Act, certain awardees and their family members are eligible for...
An approved research association refers to an organization that is primarily engaged in scientific research....
Get Startup Tax Exemption India guidance under Section 80-IAC. Claim a 100% tax holiday for 3 years with...
The deductions under Chapter VI-A (Sections 80A to 80U) are subject to certain overarching rules that...
When an employer provides accommodation in a hotel, guest house, or similar facility, its taxability...
1. Set-Off Rules for Current Year Losses
Intra-head adjustment (Section 70):
Business losses can be...
Section 10(23AAB) of the Income Tax Act provides an exemption for income of a pension fund set up by:
Life...
The taxpayer has to communicate the details of his taxable income/loss to the Income tax Department.
These...
1. Key Provision
Section 37(2B)of the Income Tax Act, 1961, disallows any deduction for expenses incurred...
Purpose:
This section provides a full tax exemption on any scholarship granted to meet educational expenses,...
Purpose:
This section provides a full tax exemption on pension received by government employees (or their...
Here’s a detailed explanation of Section 170 (Interest on Delayed Payment of Equalisation Levy) under...
1. Overview
When a taxpayer fails to pay advance tax voluntarily, the Assessing Officer (AO) can issue...
A scrutiny (regular) assessment under Section 143(3) is a comprehensive evaluation of a taxpayer’s return...
1. Basic Condition
A taxpayer is liable to pay advance tax if:
Estimated tax liability(after deducting...
INTRODUCTION:
Form 15CA and Form 15CB are essential documents under the Income Tax Act, 1961, for foreign...
Rule 12 of the Income Tax Rules, 1962, prescribes the forms, conditions, and procedures for filing income...