Section 44AB of the Income Tax Act, 1961 mandates a compulsory tax audit for businesses and professionals...
Section 10(1) of the Income Tax Act, 1961, provides a full exemption for agricultural income, meaning...
Section 10(23B) of the Income Tax Act provides a tax exemption for income earned by certain institutions...
Section 115F of the Income Tax Act, 1961, provides a tax exemption to Non-Resident Indians (NRIs) on long-term...
Following goods are being exempted from levy of Social Welfare Surcharge
S. No.
Description
1.
Natural...
According to Section 10(2A), any share of profit received by a partner from a firm is exempt from tax....
Interest on Non-resident (External) Account (NRE) is exempt from income tax in India under Section 10(4)(ii)...
1. Introduction of Block Assessment Provisions in cases of Search under Section 132 and Requisition under...
Section 57 of the Income Tax Act, 1961, permits specific deductions while computing taxable income under...
Notwithstanding anything contained in sections 30 to 38, the following amounts shall not be deducted...
1. Perquisites [(Section 17(2)]- Income under the head Salaries
Section 17(2) of the Income-tax Act,...
Under the Income Tax Act, 1961, the Commissioner of Income Tax (Exemption) [CIT(E)] has the authority...
Section 192A of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on premature withdrawals...
Discover How ULIP Taxation 2025-26 Works Under The New Income Tax Act. Learn About Capital Gains Tax...
Applicable to: Individuals & HUFs (for self or dependent relatives)
This section provides tax relief...
Under Section 253 of the Income Tax Act, 1961, appeals can be filed before the Income Tax Appellate Tribunal...
Section 10(23AAA) of the Income Tax Act provides an exemption for income received by any person on behalf...
Here’s a detailed breakdown of fully taxable allowances for the computation of salary income in India,...
Section 55(2) – Cost of Acquisition of Capital Asset for Computing Capital Gain
Cost of acquisition...
Section 36 of the Income Tax Act, 1961 lists specific deductions allowed against business income, in...