Income under the head ‘Income from House Property’ under Section 22 to 27 has been described with practical...
Annual Value is the taxable value assigned to a property for calculating “Income from House Property”....
1. Legal Basis for TDS Certificates
Section 203of the Income Tax Act, 1961 mandates that every deductor must...
1. Overview
Under Section 210(1) of the Income Tax Act, 1961, taxpayers liable for advance tax must voluntarily...
Section 55(2) of the Income Tax Act, 1961, provides crucial rules for determining the cost of acquisition of...
Section 139(1) of the Income Tax Act, 1961, lays down the rules for who must file an Income Tax Return...
1. Overview
Introduced: Finance Act 2021 (effective from 1st July 2021).
Purpose: Imposes higher Tax...
Here’s a detailed explanation of Section 40(a)(ib) of the Income Tax Act, 1961, which deals with...
For income to be taxed under the head “Income from House Property” (Sections 22-27 of the...
1. Who is Liable?
Every taxpayer(individuals, HUFs, companies, firms, etc.) whose estimated tax liability for...
INTRODUCTION-
The Goods and Services Tax (GST) is a comprehensive and multi-stage tax system that aims...
The Finance (No. 2) Bill, 2024, has introduced several significant amendments to the capital gains tax...
Special Provisions for computing Business income in certain cases on the basis of Estimated Income Method...
Arrears of salary refer to payments received by an employee for work done in previous financial years...
Allowances form a significant part of salary income and are classified into three categories for tax...
Overview of Section 10(6C)
Section 10(6C) provides a tax exemption to foreign companies on income received...
Section 194 of the Income Tax Act, 1961, governs Tax Deducted at Source (TDS) on dividend payments made...
Section 194Q of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payments made by buyers to resident...
Purpose:
This section provides a full tax exemption on income earned by approved news agencies that operate...
S.O. 614(E).-In exercise of the powers conferred by sub-section (2) of section 168 of Finance Act, 2016...