A Hindu Undivided Family (HUF) is a unique entity recognized by the Indian tax system. It is a family...
A. Basic Conditions for Section 11 (Income from Property Held for Charitable/Religious Purposes)
Registration...
Section 80RRB of the Income Tax Act, 1961, provides for a deduction in respect of royalty income received...
Under Section 139(4D) of the Income Tax Act, 1961, research institutions engaged in scientific, social,...
Ministry of Finance
Posted On: 22 JAN 2025 8:09PM by PIB Delh
CBDT notifies amendments in Income-tax...
Under Section 139(3) of the Income Tax Act, 1961, taxpayers can file a Return of Loss to carry forward...
Pensions are fixed sums of money that individuals receive at regular intervals after retirement. They...
Section 10(23ED) of the Income Tax Act provides a tax exemption for income received by an Investor Protection...
Section 69D targets hundi transactions (an informal financial instrument) conducted without banking channels,...
1. Understanding the Principle of Mutuality
The principle of mutuality relates to the notion that a person...
Cases or situations of Tax Relief under section Section 89/Rule 21A when Salary is Paid in Arrears or...
Indian Strategic Petroleum Reserves Limited (ISPRL) plays a crucial role in ensuring the energy security...
Section 55(2) – Cost of Acquisition of Capital Asset for Computing Capital Gain
Cost of acquisition...
Section 139(1) of the Income Tax Act, 1961, lays down the rules for who must file an Income Tax Return...
The term “actual cost” in the context of asset acquisition plays a pivotal role in income...
GST Audit under Section 65 of the CGST Act, 2017 is conducted by the tax authorities to verify the correctness...
Here’s a detailed explanation of Section 40(a)(ib) of the Income Tax Act, 1961, which deals with...
1. Covered Entities (Section 10(23C))
The following enjoy 100% tax exemption on their income:
Funds/institutions...
Circular No. 01/2025 [F. No. 500/05/2020/FT&TR-II] Dated 21st January, 2025
Government of India
Ministry...
Section 194P of the Income Tax Act, 1961, provides a TDS exemption for senior citizens (aged 75+) with...