Section 234H of the Income Tax Act, 1961 imposes a fee for failure to intimate/link one’s Aadhaar...
Section 67 of the Central Goods and Services Tax (CGST) Act, 2017 deals with the inspection, search,...
The provisions, which are being discussed under various sub-sections of section 40A have overriding effect ...
Section 10(46) of the Income Tax Act, 1961 provides for exemption from income tax of the specified income...
Section 55(2) – Cost of Acquisition of Capital Asset for Computing Capital Gain
Cost of acquisition...
Section 10(4F) of the Income Tax Act, 1961 in India provides an exemption for income earned by a non-resident...
Section 10(4G) of the Income Tax Act, 1961 in India provides an exemption for certain income earned by...
Here’s a detailed explanation of Section 271K of the Income Tax Act, 1961, which deals with penalties...
Section 234A(4) of the Income Tax Act, 1961, deals with the adjustment of interest when there is a subsequent revision,...
1. Legal Requirement
Section 206Amandates specified entities to file statements for payments made to...
Under the Income Tax Act, brought forward losses must be set off against eligible income in the immediately...
Section 10(2) of the Income Tax Act, 1961, provides a tax exemption for sums received by a member of...
Chapter XIV-B (Sections 158BA, 158BB, 158BE):
Replaces “total income” assessment with “undisclosed...
1. Enabling the Commissioner (Appeals) to levy Penalty under Section 271AAB. 271AAC and 271AAD of the...
Here’s a detailed table summarizing the tax treatment of Provident Fund (PF) contributions, interest,...
Purpose:
This section provides a full tax exemption on any scholarship granted to meet educational expenses,...
Section 234D of the Income Tax Act, 1961, mandates that taxpayers repay excess refunds received during...
Understanding Section 71: Inter-Head Adjustment
Section 71 of the Income Tax Act, 1961 allows taxpayers...
Section 10(23BB) of the Income Tax Act provides a tax exemption for the income of a Khadi and Village...
Section 142A of the Income Tax Act, 1961 empowers the Assessing Officer (AO) to refer matters of asset...