When it comes to dealing with various processes and procedures, understanding the time limits, forms,...
Section 50C of the Indian Income Tax Act, 1961, is applicable to the computation of capital gains in...
List of all Other Deductions which are specified under section 36 of the Indian Income Tax Act,1961,...
Under Section 17(2) of the Income Tax Act, 1961, certain perquisites are taxable only for “specified...
Section 10(23FCA) of the Income Tax Act provides a tax exemption for rental income earned by a Real Estate...
1. When Does This Apply?
When the taxpayer calculates their own advance tax liability(not based on the...
Special Provisions for computing Business income in certain cases on the basis of Estimated Income Method...
1. Scope of Section 56(2)(id)
This provision covers interest income from securities when:
Not chargeable...
Under the Income Tax Act, 1961, the following business/profession expenses are expressly allowed as deductions...
Section 10(4F) specifically applies to income earned by a non-resident from a unit of an International...
Section 145 of the Income Tax Act, 1961 governs the method of accounting for computing taxable income...
Section 158A of the Income Tax Act, 1961, read with Rule 16 of the Income Tax Rules, 1962, provides a...
Income chargeable under the head “Income from house property” shall be computed after making...
Discover The New TCS Rules April 2025. Learn About Higher LRS Thresholds, Education Loan Exemptions,...
What are the Deemed Profits and how they chargeable to Tax as Business Income
1. Recovery against any...
Learn What Income Is Chargeable Under Section 15 Income Tax Act 1961. Understand Due Basis Vs Receipt...
Section 9, Income Accrue or Deemed to Accrue or Arise in India :
Section 9 describes the Incomes which...
Circular No. 07/2024 [F. No.173/25/2024-ITA-I] Dated 25th April, 2024: A Detailed Analysis
The Central...
1. Basic Rule for HUF Residency
A HUF is Resident in India if:
“Control and management of its affairs...
Understanding Section 10(10A)
Section 10(10A) provides tax exemption for commuted pension amounts received...