Section 219 of the Income Tax Act, 1961 governs how advance tax payments are credited against a taxpayer’s...
Section 10(10C) of the Income Tax Act provides an exemption to employees who receive a certain amount...
Section 147 empowers the Assessing Officer (AO) to reassess or recompute income that has escaped taxation in...
Understanding of Section 54
When an individual sells a residential house property, they are liable to...
Section 115JB ensures that companies with substantial book profits but low or no taxable income (due...
Applicable to: Enterprises engaged in infrastructure, power, telecom, SEZs, etc.
This section provides 100%...
Section 10(4E) of the Income Tax Act, 1961 provides an exemption from tax on income arising from the...
Section 285B of the Income Tax Act, 1961, mandates producers of cinematograph films and persons engaged...
Section 158AA of the Income Tax Act, 1961 (inserted via Finance Act, 2015) provides a mechanism to prevent...
Applicable to: Individuals & HUFs (for self or dependent relatives)
This section provides tax relief...
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 10(23BBE) of the Income Tax Act provides a complete tax exemption for the income of the Insurance...
Section 140 of the Income Tax Act, 1961 specifies who must verify the return of income and the authorized...
Voluntary Retirement Scheme (VRS) is a mechanism used by companies to reduce their workforce by offering...
Section 10(34A) of the Income Tax Act provides a tax exemption for shareholders on income received from...
Chapter VI-A of the Income Tax Act, 1961, provides various deductions from Gross Total Income (GTI) to...
Section 115BAC of the Income Tax Act, 1961, introduces a simplified tax regime with lower slab rates...
1. What is PAN?
PAN stands for Permanent Account Number. PAN is a ten-digit unique alphanumeric number...
Here we discuss all the Provisions towards Computation of Capital Gain in certain Special Cases and the...