Learn The New Partner Remuneration Deduction Limits Under Section 40(B) And TDS Rules Under Section 194T...
Section 28 of the Income Tax Act, 1961 defines the incomes chargeable under the head “Profits and...
Section 206CC of the Income Tax Act, 1961 mandates a higher Tax Collected at Source (TCS) rate if the...
Purpose:
This section provides a full tax exemption on income earned by approved news agencies that operate...
Here’s a detailed analysis of Section 271J of the Income Tax Act, 1961, which imposes penalties...
Cases or situations of Tax Relief under section Section 89/Rule 21A when Salary is Paid in Arrears or...
The Indian Income Tax Act, 1961 classifies taxable income under five distinct heads, with “Income...
1. Section 70: Inter-Source Adjustment – Set Off of Loss from one Source against Income from another...
Section 80TTB of the Income Tax Act, 1961 provides a special deduction to senior citizens in respect...
Section 132 of the Income Tax Act empowers tax authorities to conduct searches and seize undisclosed...
1. Perquisites [(Section 17(2)]-Definition
Section 17(2) of the Income-tax Act, 1961 gives an inclusive...
Assessment of Charitable Organizations When Commercial Receipts Exceed 20% Threshold [Section 13(8)]
1. Key Provision (Section 13(8))
Introduced by Finance Act 2022(Effective AY 2023-24)
Applies whena...
Applicable to: All taxpayers (Individuals, HUFs, Firms, etc.)
This section provides 100% deduction for...
Section 10(12A) of the Income Tax Act, 1961 provides important tax benefits for withdrawals from the...
Key Rule
When an individual converts their self-acquired property into HUF (Joint Family) property, any...
Interest on Non-resident (External) Account (NRE) is exempt from income tax in India under Section 10(4)(ii)...
To promote digital transactions, the Income Tax Act mandates certain businesses to compulsorily accept...
Section 38 of the Income Tax Act, 1961 governs deductions for depreciation and other expenses related...
Section 44AA of the Income Tax Act, 1961, mandates certain taxpayers to maintain books of accounts, while Rule...
Section 10(12B) of the Income Tax Act, 1961 provides tax exemptions on partial withdrawals from the National...