Section 10(10C) of the Income Tax Act provides an exemption to employees who receive a certain amount...
Applicable to: *Individuals aged 60+ years (including NRIs)*
This section provides higher tax relief...
Under the Income Tax Act, 1961, individuals and Hindu Undivided Families (HUFs) can claim exemptions...
Applicable to: Individuals & HUFs (Non-Senior Citizens)
This section provides tax relief on interest...
Section 273AA of the Income Tax Act, 1961, empowers the Principal Commissioner or Commissioner to grant...
The Finance Bill 2025, presented by Finance Minister Nirmala Sitharaman as part of the Union Budget 2025-26,...
Section 43CA of the Income Tax Act, 1961 addresses the taxation of undervalued transactions involving business...
Section 154 of the Income Tax Act, 1961, allows the Assessing Officer (AO), Commissioner (Appeals), or...
What are the Deemed Profits and how they chargeable to Tax as Business Income
1. Recovery against any...
Under Section 139(4A) of the Income Tax Act, 1961, charitable and religious trusts/institutions must...
Arrears of salary refer to payments received by an employee for work done in previous financial years...
Under the Income Tax Act, 1961, the Principal Chief Commissioner (PCCIT), Chief Commissioner (CCIT),...
1. Applicability
Section 56(2)(ii) covers rental income from:
Machinery
Plant(equipment, tools, vehicles)
Furniture
when not...
1. Legal Status of Default
Deductor becomes “Assessee in Default”for:
Failure to deduct...
Enrolment Duration
Expenditure Duration
Beneficiaries
Central Outlay
Years
(lakhs)
(Rs....
Section 142 empowers the Assessing Officer (AO) to conduct a preliminary inquiry before finalizing an...
Education is an essential aspect of personal and professional growth. However, pursuing higher education...
Purpose:
This section provides a tax exemption on payments made by an Indian company to a foreign entity...
Section 68 is a critical anti-evasion provision that targets unexplained sums credited in a taxpayer’s...
Section 285B of the Income Tax Act, 1961, mandates producers of cinematograph films and persons engaged...