Section 10(26) of the Income Tax Act provides a tax exemption for members of Scheduled Tribes residing...
Section 9 of the Income Tax Act, 1961 is an important provision that deals with the taxation of income...
Here’s a detailed breakdown of the tax rates on long-term capital gains (LTCG) for assets not covered...
It was introduced under chapter VIII of Finance Act, 2016. This chapter came in to force from 1st June,...
Special Provisions for computing Business income in certain cases on the basis of Estimated Income Method...
Under Section 139(4A) of the Income Tax Act, 1961, charitable and religious trusts/institutions must...
1. Applicability
Section 56(2)(ib) covers casual and non-recurring income from:
Lotteries(including...
Section 115BAA of the Income Tax Act, 1961 provides a concessional tax rate of 22% (plus surcharge &...
The National Savings Certificate (NSC) is a fixed Income Investment scheme that you can open with any...
1. Importance of Residential Status
Residential status determines:
Which incomes are taxable in India...
The Income Tax Act, 1961, allows for the waiver or reduction of interest in certain cases, primarily...
Section 10(23FC) of the Income Tax Act provides a tax exemption for specific types of income earned by...
Understanding and Conditions of Section 115F
As a Non-Resident Indian (NRI), understanding the tax implications...
Term life insurance, also known as pure life insurance, is a type of life insurance that guarantees payment...
Section 65 clarifies the tax liability of the transferee (recipient of income/assets) when income is...
As per Section 54D, the Capital Gain arising from the transfer, by way of compulsory acquisition under...
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
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New...
Provisions and Amendments Relating to Direct Tax Vivad se Vishwas Scheme, 2024
The Income-tax Act, 1961...
The Equalisation Levy in India, governed by Chapter VIII of the Finance Act, 2016, imposes a tax on certain...
Under Section 10(17A) of the Income Tax Act, any award or reward received by an individual in recognition...