1. Business [Section 2(13)]
Business includes:
Any trade, commerce, or manufacturing activity;
Any adventure...
Section 80RRB of the Income Tax Act, 1961, provides for a deduction in respect of royalty income received...
1. [Section 80C]: Deduction in respect of Life Insurance Premium, Deferred Annuity, Contributions to...
Section 50C of the Indian Income Tax Act, 1961, is applicable to the computation of capital gains in...
Section 10(23C) of the Income Tax Act, 1961 provides for the exemption of income of certain funds of...
The Goods and Services Tax (GST) Act, 2017, has laid down comprehensive guidelines for recovery proceedings...
Indian Strategic Petroleum Reserves Limited (ISPRL) plays a crucial role in ensuring the energy security...
Section 10(2A) of the Income Tax Act, 1961 in India exempts a partner’s share in the total income...
Section 10(20) of the Income Tax Act, 1961 provides exemption from income tax for the income of a local...
Understanding of Section 80D
Section 80D of the Income Tax Act provides individuals with a deduction...
Section 10(12B) of the Income Tax Act, 1961 provides tax exemption to partial withdrawals from the National...
National Pension System (NPS) is a retirement benefit Scheme introduced by the Government of India to...
Section 234F of the Income Tax Act, 1961 imposes a late filing fee if an assessee fails to file their...
Here’s a detailed analysis of Section 271J of the Income Tax Act, 1961, which imposes penalties...
Section 192 mandates employers to deduct Tax Deducted at Source (TDS) from employees’ salaries...
Section 10(23FC) of the Income Tax Act provides a tax exemption for specific types of income earned by...
Section 144A of the Income Tax Act, 1961, empowers the Joint Commissioner (JCIT) to intervene in pending...
Income tax laws can be complex and confusing, especially when it comes to understanding the various exemptions...
Section 115F of the Income Tax Act, 1961, provides a tax exemption to Non-Resident Indians (NRIs) on long-term...
Section 10(23EC) of the Income Tax Act provides a tax exemption for income received by an Investor Protection...