Section 28 of the Income Tax Act, 1961, is a key provision that defines the types of income chargeable...
The rules for valuation of specified fringe benefits or amenities arc as under:
1. Interest Free Or...
In the intricate landscape of Goods and Services Tax (GST), the concepts of zero-rated supply and export...
Understanding Section 10(8A)
Section 10(8A) provides full tax exemption on remuneration received by:
Non-Indian...
Section 80QQB of the Income Tax Act provides a deduction in respect of royalty income earned by authors....
Section 36 of the Income Tax Act, 1961 lists specific deductions allowed against business income, in...
Section 194EE of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on withdrawals from...
Here’s a comprehensive analysis of Section 56(2)(viib) of the Income Tax Act, 1961, which taxes share...
(1) Introduction to Section-71 (Inter-Head Adjustment)
Under the Indian Income Tax Act, 1961, taxpayers...
Section 264B of the Income Tax Act, 1961, pertains to the faceless effect of orders passed under the...
1. Basic Principle of Assessment
Clubbed income is assessed in the hands of the transferor (not the transferee)...
Under Section 139(3) of the Income Tax Act, 1961, taxpayers can file a Return of Loss to carry forward...
Section 10(46) of the Income Tax Act, 1961 provides for exemption from income tax of the specified income...
Applicable to: Individuals & HUFs
This section provides tax benefits for health-related expenditures,...
The treatment of vouchers under GST has been a subject of debate due to their unique nature. This article...
Rule 12 of the Income Tax Rules, 1962, prescribes the forms, conditions, and procedures for filing income...
1. Introduction to Section 80CCD
Section 80CCD of the Indian Income Tax Act, 1961, provides for deductions...
Here’s a detailed explanation of Penalty under Section 271H of the Income Tax Act, 1961, which applies...
Section 10(4E) of the Income Tax Act, 1961 provides an exemption from tax on income arising from the...
Here’s a detailed analysis of Section 273A of the Income Tax Act, 1961, which empowers tax authorities...