Notification No. 07/2025 [F. No. 203/20/2024/ITA-II] Dated 14th January, 2025
MINISTRY OF FINANCE
(Department...
Order No. [F. No. 225/235/2024/ITA-II] Dated 31st January, 2025
MINISTRY OF FINANCE
(Department of Revenue)
Order...
1. Perquisites [(Section 17(2)]-Definition
Section 17(2) of the Income-tax Act, 1961 gives an inclusive...
Section 10(4F) of the Income Tax Act, 1961 in India provides an exemption for income earned by a non-resident...
Under Section 48 of the Income Tax Act, 1961, certain expenses incurred during the transfer of a capital...
A. Purpose of CRS and FATCA
In this globalized economy, tax transparency and compliance has become paramount...
Income from house property is one of the five heads of income under the Income Tax Act, 1961. It applies...
Section 10(4E) of the Income Tax Act, 1961 provides an exemption from tax on income arising from the...
The Finance Bill 2025, presented by Finance Minister Nirmala Sitharaman as part of the Union Budget 2025-26,...
Understanding Section 10(8A)
Section 10(8A) provides full tax exemption on remuneration received by:
Non-Indian...
Under Section 10(18) of the Income Tax Act, certain awardees and their family members are eligible for...
1. Legal Definition (Section 2(14))
A capital asset means:
Property of any kind held by an assessee...
1. [Section 56(2)]: List of Incomes included under ‘Income from Other Sources’
There are many incomes...
With the increasing concerns about climate change and the need to reduce pollution, there has been a...
Here’s a structured table summarizing the extension of time limits for filing Updated Tax Returns (ITR-U)...
Allowances form a significant part of salary income and are classified into three categories for tax...
1. Definition & Applicability
Entertainment Allowance is a special allowance given to employees to...
Section 80DD of the Income Tax Act in India provides a deduction for individuals or Hindu Undivided Families...
Section 10(23FBC) of the Income Tax Act provides a tax exemption for income earned by a unit holder from...
Purpose:
This section provides a 100% tax exemption to foreign companies on income earned from leasing cruise...