Purpose:
This section provides a full tax exemption on any scholarship granted to meet educational expenses,...
Under Section 239 of the Income Tax Act, 1961, and related provisions, here are the key details regarding...
Section 142B of the Income Tax Act, 1961 empowers the Central Government to make schemes for faceless...
Applicable to: Individual taxpayers
This section provides a deduction for interest paid on loans taken...
Under Section 139(4C) of the Income Tax Act, 1961, specific categories of non-profit entities must file...
1. Scope of Section 56(2)(id)
This provision covers interest income from securities when:
Not chargeable...
The Income Tax Act, 1961 contains provisions related to search, seizure, survey, and special procedures...
1. Source of the funds or any other sum provided by the lender to the borrower and credited in hooks...
Section 132 of the Income Tax Act empowers tax authorities to conduct searches and seize undisclosed...
(1) Unit Linked Insurance Policies (ULIPs) have gained popularity as a dual investment-cum-insurance...
Section 206C of the Act provides for tax collection at source (TCS) on business of trading in alcoholic...
Amendment of section 9.
110. In the Central Goods and Services Tax Act, 2017 (12 of 2017.) (hereinafter...
Income under the head ‘Income from House Property’ under Section 22 to 27 has been described with practical...
Section 55(2) of the Income Tax Act, 1961, provides crucial rules for determining the cost of acquisition of...
Section 10(23FBB) of the Income Tax Act deals with taxation of business income earned by unit holders...
Section 196A of the Income Tax Act, 1961 governs the Tax Deducted at Source (TDS) on income paid to non-residents (including foreign...
Concept:
Section 60applies when a person transfers only the right to receive income from an asset without...
Section 194-I of the Income Tax Act, 1961, a crucial piece of legislation in India, governs the taxation...
Notification No. 07/2025 [F. No. 203/20/2024/ITA-II] Dated 14th January, 2025
MINISTRY OF FINANCE
(Department...
1. Rationalization of provisions of TDS on sale of immovable property [Section 194-IA amended w.e.f....