Section 115BAB of the Income Tax Act, 1961 provides a concessional tax rate of 15% (plus surcharge &...
Section 10(37) of the Income Tax Act, 1961 provides for the exemption of capital gains on compensation...
Here we describe all the Provisions towards Calculation of Tax on Short-term Capital Gains under Section...
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
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New...
Section 10(23BBA) of the Income Tax Act provides a tax exemption for the income of any body or authority...
Section 156 of the Income Tax Act, 1961, governs the issuance of demand notices by the Assessing Officer...
Section 55(2) of the Income Tax Act, 1961, provides crucial rules for determining the cost of acquisition of...
1. Definition & Applicability
Entertainment Allowance is a special allowance given to employees to...
So far, we have discussed what are the various incomes, allowances and perquisites which are exempt and...
Purpose:
This section provides a tax exemption on payments made by an Indian company to a foreign entity...
1. Unexplained Cash Credits [Section 68]
Where any sum is found credited in the books of an assessee,...
A. Purpose of CRS and FATCA
In this globalized economy, tax transparency and compliance has become paramount...
1. Basic Condition
A taxpayer is liable to pay advance tax if:
Estimated tax liability(after deducting...
Section 9 of the Income Tax Act, 1961 is an important provision that deals with the taxation of income...
1. Who is Liable?
Every taxpayer(individuals, HUFs, companies, firms, etc.) whose estimated tax liability for...
These sections govern how notices, summons, orders, and other communications must be served by the Income...
Section 145 of the Income Tax Act, 1961 governs the method of accounting for computing taxable income...
Section 10(10BC) of the Income Tax Act, 1961, provides an exemption for compensation received by an individual...
Section 10(13) of the Income Tax Act, 1961 provides tax exemptions on payments received from an approved...
Applicable to: Enterprises engaged in infrastructure, power, telecom, SEZs, etc.
This section provides 100%...