Under Section 48 of the Income Tax Act, 1961, certain expenses incurred during the transfer of a capital...
1. [Section 56(2)]: List of Incomes included under ‘Income from Other Sources’
There are many incomes...
Here’s a detailed explanation of Penalty under Section 271AAC of the Income Tax Act, 1961, which applies...
Section 10(10D) of the Income Tax Act, 1961, provides tax exemption on the sum received under a life...
The Income Tax Appellate Tribunal (ITAT) is the second appellate authority under the Income Tax Act,...
The Income Tax Bill 2025 will come into effect from April 1, 2026, after it is vetted by a Select Committee...
Understanding of Section 80P
Section 80P of the Income Tax Act, 1961 provides a deduction in respect...
Section 10(4G) of the Income Tax Act, 1961 in India provides an exemption for certain income earned by...
Section 194H of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payments made as commission...
This Trust Deed is made and executed on this [Date] day of [Month], [Year] at [Place] by:
SETTLOR:
Name:...
Section 38 of the Income Tax Act, 1961 governs deductions for depreciation and other expenses related...
Tax incentives to International Financial Services Centre
International Financial Services Centre (IFSC)...
Section 293B of the Income Tax Act, 1961, empowers the Central Board of Direct Taxes (CBDT) to condone...
The Finance (No. 2) Bill, 2024, has introduced several significant amendments to the capital gains tax...
1. Individual and HUF Applicants who are Citizens of India and Located Within and Outside India at the...
Section 194E of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payments made to non-resident...
1. Overview of Section 58
Section 58 specifies expenses that cannot be deducted while computing taxable...
Under the Explanation to section 288(2), an “accountant” means a chartered accountant within...
Section 10(23AA) of the Income Tax Act provides an exemption for income received by any person on behalf...
Section 115JB(2) mandates that the Statement of Profit & Loss (P&L) for MAT computation must...