1. Who is Exempt?
Resident Individuals aged 60 years or above(Senior Citizens).
Condition: Must not...
Government of India
Department of Revenue
Ministry of Finance
Central Board of Direct Taxes
New Delhi,...
Section 15 of the Income Tax Act, 1961 defines what constitutes taxable salary income and specifies the...
Employee Stock Option Plan (ESOP) has gained popularity as a tool for employee retention, especially...
Section 196C of the Income Tax Act, 1961 mandates Tax Deducted at Source (TDS) on income paid to non-residents (including...
Section 194-IB of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on rent payments exceeding ₹50,000/month by individuals...
1. Who is Liable?
Every taxpayer(individuals, HUFs, companies, firms, etc.) whose estimated tax liability for...
A closely held company (where the public is not substantially interested) is subject to stricter tax...
Section 59 deals with deemed income that becomes taxable under the head “Income from Other Sources” when...
Section 54EC of the Income Tax Act, 1961, provides tax exemption on long-term capital gains (LTCG) from...
Education is an essential aspect of personal and professional growth. However, pursuing higher education...
Section 10(23FE) of the Income Tax Act provides a tax exemption for certain types of income earned by...
Section 10(23BBC) of the Income Tax Act provides a tax exemption for the income of the SAARC Fund for...
1. Introduction to Loss Carry Forward
When losses cannot be fully adjusted in the same financial year,...
Discover How ULIP Taxation 2025-26 Works Under The New Income Tax Act. Learn About Capital Gains Tax...
Key Rule:
Section 61 (taxation of revocable transfers) does NOT applyif the transfer is irrevocable...
Goods and Services Tax (GST) in India is a comprehensive, multi-stage, destination-based tax that is...
Section 72 of the Income Tax Act, 1961, governs the carry forward and set-off of business losses, allowing...
Here’s a detailed analysis of Sections 269SU and 271DB of the Income Tax Act, 1961, which mandate businesses...
Section 10(23FCA) of the Income Tax Act provides a tax exemption for rental income earned by a Real Estate...