An individual may either be a:
(a) Resident in India; or
(b) Deemed to be Resident In India...
Provident Fund (PF) is a social security scheme in India that provides financial assistance to employees...
Interest incomes which are exempt under section 10(15) could be explained with the help of the following...
Here’s a detailed breakdown of Penalty under Section 271DA of the Income Tax Act, 1961, for failure to...
Section 234C of the Income Tax Act, 1961, pertains to the levy of interest for deferment of advance tax....
1. Introduction of Block Assessment Provisions in cases of Search under Section 132 and Requisition under...
Applicable to: Individuals & HUFs
Section 80C is one of the most popular tax-saving sections, allowing...
Section 194E of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payments made to non-resident...
1. Overview
Introduced: Finance Act, 2004.
Objective: Ensure tax compliance on income from leases/licenses...
A format to compute the capital gain is given below:
Computation of Short-term Capital Gains
Full...
Section 144 of the Income Tax Act, 1961, empowers the Assessing Officer (AO) to determine a taxpayer’s...
Section 10(12) of the Income Tax Act governs the tax treatment of withdrawals from a Recognised Provident...
Section 10(24) of the Income Tax Act provides a tax exemption for certain types of income earned by registered...
1. Importance of Residential Status
Residential status determines:
Which incomes are taxable in India...
Developmental financing institutions play a crucial role in promoting economic growth and development...
Section 10(23FE) of the Income Tax Act provides an exemption in respect of certain income of wholly owned...
According to Section 10(7), allowances or perquisites received by an employee outside of India for rendering...
Section 293D empowers the Central Government to implement a faceless (digital) scheme for granting approvals...
Section 38 of the Income Tax Act, 1961 governs deductions for depreciation and other expenses related...
Notification No. 05/2025 [F. No. 300196/37/2019-ITA-I] Dated 3nd January, 2025
MINISTRY OF FINANCE
(Department...