Under the Income Tax Act, 1961, the Commissioner of Income Tax (Exemption) [CIT(E)] has the authority...
The residential status of a company is a crucial factor in determining its tax liability in India. Section...
1. Automated Processing by CPC-TDS
Centralized Processing Center (CPC-TDS)processes all TDS returns
Auto-validationof...
Applicable to: Individual taxpayers
This section provides a deduction for interest paid on loans taken...
1. Source of the funds or any other sum provided by the lender to the borrower and credited in hooks...
Here’s a detailed summary of the relaxation of deemed let-out property provisions under the Finance Bill...
1. Basic Principle of Assessment
Clubbed income is assessed in the hands of the transferor (not the transferee)...
Income chargeable under the head “Income from house property” shall be computed after making...
The Indian Income Tax Act, 1961 classifies taxable income under five distinct heads, with “Income...
National Pension System (NPS) is a retirement benefit Scheme introduced by the Government of India to...
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
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New...
1. Legal Status of Default
Deductor becomes “Assessee in Default”for:
Failure to deduct...
Section 10(10CC) provides a unique tax benefit where certain perquisites paid by employers are exempt...
Section 74 of the Income Tax Act, 1961 governs the treatment of capital losses, providing specific rules...
Section 292B of the Income Tax Act, 1961, protects income tax proceedings from being invalidated due...
Section 80DD of the Income Tax Act in India provides a deduction for individuals or Hindu Undivided Families...
Purpose:
This section provides tax exemption to professional associations (like medical councils, bar...
Applicable to: All businesses (except freelancers)*
This section provides 30-60% additional wage cost...
Section 10(23FE) of the Income Tax Act provides an exemption in respect of certain income of wholly owned...
Indian Strategic Petroleum Reserves Limited (ISPRL) plays a crucial role in ensuring the energy security...