Block Assessment Under Section 158BC Consolidates Undisclosed Income From Search Cases. Learn About The...
Retrenchment compensation received by an employee due to termination of employment is partially exempt from...
Section 151A empowers the Central Government to implement a faceless, technology-driven scheme for reassessing...
Section 56(2)(viib) of the Income Tax Act, 1961, is a provision that pertains to closely-held companies...
Under the Income Tax Act, 1961, and the Constitution of India, an appeal can be filed before the Supreme...
Section 115BAB of the Income Tax Act, 1961 provides a concessional tax rate of 15% (plus surcharge &...
Section 142A of the Income Tax Act, 1961 empowers the Assessing Officer (AO) to refer matters of asset...
Section 196B of the Income Tax Act, 1961 governs the Tax Deducted at Source (TDS) on income paid to non-residents or foreign...
We will continue our efforts to simplify taxes, improve tax payer services, provide tax certainty and...
1. Computation of Income under the head Income from “Salaries”
The first head of income is...
Here’s a detailed breakdown of the collection and recovery of Equalisation Levy (EL) under Sections 166...
Section 10(23FCA) of the Income Tax Act provides a tax exemption for rental income earned by a Real Estate...
Section 158AA of the Income Tax Act, 1961 (inserted via Finance Act, 2015) provides a mechanism to prevent...
Here’s a detailed explanation of Section 40(a)(ib) of the Income Tax Act, 1961, which deals with...
Learn Who Qualifies As An Assessee In Income Tax Under Section 2(7) Of The Income Tax Act. Understand...
A survey under Section 133A of the Income Tax Act, 1961 is a legal procedure allowing income-tax authorities...
According to Section 10(2A), any share of profit received by a partner from a firm is exempt from tax....
1. Applicability
Section 56(2)(ii) covers rental income from:
Machinery
Plant(equipment, tools, vehicles)
Furniture
when not...
Section 36 of the Income Tax Act, 1961 lists specific deductions allowed against business income, in...
Overview
Section 157A of the Income Tax Act, 1961, was introduced to empower the Central Government to...