Section 44AA of the Income Tax Act, 1961, mandates certain taxpayers to maintain books of accounts, while Rule...
Section 56(2)(viib) of the Income Tax Act, 1961, is a provision that pertains to closely-held companies...
Section 139(5) of the Income Tax Act, 1961, allows taxpayers to correct errors or omissions in their...
Section 10(23C) of the Income Tax Act, 1961 provides for the exemption of income of certain funds of...
Section 115BAB of the Income Tax Act, 1961 provides a concessional tax rate of 15% (plus surcharge &...
Section 10(11A) provides full tax exemption on withdrawals from a Sukanya Samriddhi Account (SSA), making...
Section 194D of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payments made as insurance...
Purpose:
This section provides a tax exemption on family pension received by the widow or children of...
Section 245 of the Income Tax Act, 1961 allows the Income Tax Department to adjust (set off) a taxpayer’s refund...
Section 7 of the Income Tax Act, 1961, defines certain incomes that are deemed to be received in India,...
Section 284 of the Income Tax Act, 1961, governs how notices, orders, or summons must be served when...
The Income Tax Act provides multiple exemptions to reduce or eliminate capital gains tax liability if...
Section 69 of the CGST Act, 2017 grants tax authorities the power to arrest individuals suspected of...
1. Key Features of Section 69B
Objective: Targets underreported investmentswhere actual expenditure...
Amendment of Section 2 [Total Income” for the purpose of Taxation]
3. In section 2 of the Income-tax...
Section 30 to 35 covers the following expenses Allowed as Deduction while computing Profits and Gains...
1. Provision by the employer of services of a Sweeper, a Gardener, a Watchman or Personal Attendant...
Section 45(3) of the Indian Income Tax Act, 1961, deals with the taxation of capital gains arising from...
Section 241A allows the Income Tax Department to withhold refunds in certain cases, even if a taxpayer...
Key Rule
When an individual converts their self-acquired property into HUF (Joint Family) property, any...