Learn Section 37 Business Expenditure: Which Business Expenses Are Deductible Under The Income Tax Act....
Under the Income Tax Act, there are certain provisions that govern the taxation of income earned by minors....
Section 115JB mandates that companies calculate Minimum Alternate Tax (MAT) based on book profits (derived...
Understanding and Conditions of Section 115F
As a Non-Resident Indian (NRI), understanding the tax implications...
The Goods and Services Tax (GST), a comprehensive indirect tax system, has been a transformative step...
Here’s a detailed breakdown of the valuation of motor car perquisites under Rule 3(2) of the Income Tax...
Section 285B of the Income Tax Act, 1961, mandates producers of cinematograph films and persons engaged...
1. Applicability of Section 56(2)(ic)
This provision covers any sum of money received by an employer from...
Following goods are being exempted from levy of Social Welfare Surcharge
S. No.
Description
1.
Natural...
1. Legal Definition (Section 2(14))
A capital asset means:
Property of any kind held by an assessee...
When a disaster strikes, it can cause immense damage to life and property. In such difficult times, the...
Introduction
The people of India have reposed their faith in the government led by the Hon’ble Prime...
Section 157 deals with the communication of losses determined by the Assessing Officer (AO) to taxpayers....
The Finance Bill 2025, presented by Finance Minister Nirmala Sitharaman as part of the Union Budget 2025-26,...
For income to be taxed under the head “Income from House Property” (Sections 22-27 of the...
The Budget Speech for 2025-26 by Finance Minister Nirmala Sitharaman, presented in Parliament, outlines...
The taxpayer has to communicate the details of his taxable income/loss to the Income tax Department.
These...
Section 9 of the Income Tax Act, 1961 is an important provision that deals with the taxation of income...
Section 54B of the Income Tax Act, 1961, provides a tax exemption on capital gains arising from the transfer...
Section 195 of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payments made to non-residents...