Overview of Section 112
Section 112 of the Income Tax Act, 1961 governs the taxation of long-term capital...
Section 194N of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on cash withdrawals exceeding...
Section 10(12C) of the Income Tax Act, 1961 provides important tax benefits for individuals enrolled...
Applicable to: Indian Companies
This section provides 100% tax deduction for contributions made by Indian...
Under the Income Tax Act, 1961, individuals and Hindu Undivided Families (HUFs) can claim exemptions...
Being a Member of Parliament (MP) or a Member of Legislative Assembly (MLA) is a position of great responsibility....
Section 169 of the Finance Act, 2016 (Chapter VIII) governs the rectification of mistakes in the context...
Section 10(4G) of the Income Tax Act, 1961 in India provides an exemption for certain income earned by...
Section 143(1) of the Income Tax Act, 1961 governs the automated processing of income tax returns by...
Employee Stock Option Plan (ESOP) has gained popularity as a tool for employee retention, especially...
Section 55(2) – Cost of Acquisition of Capital Asset for Computing Capital Gain
Cost of acquisition...
The Capital Gains Accounts Scheme (CGAS) 1988 is a scheme under the Income Tax Act, 1961, in India. It...
Section 10(20) of the Income Tax Act, 1961 provides exemption from income tax for the income of a local...
Ministry of Finance
HIGHLIGHTS OF UNION BUDGET 2025-26
Posted On: 01 FEB 2025 1:29PM by PIB Delhi
PART...
Here’s a detailed breakdown of Section 271AAD of the Income Tax Act, 1961, which imposes penalties for...
Amendment of section 9.
110. In the Central Goods and Services Tax Act, 2017 (12 of 2017.) (hereinafter...
1. Allowances- Income under the head Salaries
Allowance is a fixed monetary amount paid by the employer...
Section 22 of the Income Tax Act, 1961, defines when and how income from house property becomes taxable.
1....
This section provides tax exemptions on certain types of interest income earned from specified bonds,...
Notification No. 13/2025 [F. No.370142/9/2024-TPL] Dated 07th February, 2025
MINISTRY OF FINANCE
(Department...