Retrenchment compensation is the amount paid to a workman (employee) at the time of termination of employment...
Section 10(6) of the Income Tax Act, 1961 provides an exemption from income tax for certain income received...
Here’s a detailed breakdown of Section 271AAD of the Income Tax Act, 1961, which imposes penalties for...
Section 37(1) of the Income Tax Act, 1961 is a crucial provision that allows businesses and professionals...
Section 139(1) of the Income Tax Act, 1961, lays down the rules for who must file an Income Tax Return...
1. Basic Concept of HUF
An HUF (Hindu Undivided Family) is a separate legal entity for tax purposes,...
1. What is Section 282A?
Section 282A mandates proper authentication of all income tax notices, orders,...
Section 10(23F) of the Income Tax Act provided a tax exemption for dividends and long-term capital gains...
Following goods are being exempted from levy of Social Welfare Surcharge
S. No.
Description
1.
Natural...
Purpose:
This section provides a full tax exemption on income earned by approved news agencies that operate...
Here’s a detailed overview of Return of Income and Procedure of Assessment (Sections 139 to 154) under...
Section 10(26) of the Income Tax Act provides special provisions for the income of a member of a Scheduled...
Chapter VI-A of the Income Tax Act, 1961, provides various deductions from Gross Total Income (GTI) to...
Discover Section 44BBD Presumptive Tax — India’s New Presumptive Tax Scheme for Non-Residents Serving...
Applicable to: All taxpayers (Individuals, HUFs, Companies, etc.)
This section provides tax benefits...
Retirement planning is crucial for employees to ensure financial security post-retirement while minimizing...
Section 80DD of the Income Tax Act in India provides a deduction for individuals or Hindu Undivided Families...
Circular No. 01/2025 [F. No. 500/05/2020/FT&TR-II] Dated 21st January, 2025
Government of India
Ministry...
Section 10(23EC) of the Income Tax Act provides a tax exemption for income received by an Investor Protection...
Purpose:
This section provides a 100% tax exemption to foreign companies on income earned from leasing cruise...