When it comes to dealing with various processes and procedures, understanding the time limits, forms,...
Chapter VI-A of the Income Tax Act, 1961, provides various deductions from Gross Total Income (GTI) to...
Ministry of Finance
Posted On: 22 JAN 2025 8:09PM by PIB Delh
CBDT notifies amendments in Income-tax...
Section 234C of the Income Tax Act, 1961 imposes interest for deferring advance tax payments beyond the...
Understanding Section 10(8)
Section 10(8) provides tax exemption for income received by:
Foreign technicians/experts
Employees...
1. What is equalization levy (EL)?
This is a tax leviable on consideration received or receivable by...
Section 10(6) of the Income Tax Act, 1961 provides tax exemptions for certain types of remuneration received...
Section 285BB of the Income Tax Act, 1961, mandates the Income Tax Department to provide taxpayers with...
Purpose:
This section provides a full tax exemption on the income of local authorities, such as municipalities,...
The term “actual cost” in the context of asset acquisition plays a pivotal role in income...
Interest incomes which are exempt under section 10(15) could be explained with the help of the following...
Concept:
Section 60applies when a person transfers only the right to receive income from an asset without...
The Public Provident Fund (PPF) scheme is a very popular long-term savings scheme in India because of...
Purpose:
This section provides a 100% tax exemption to foreign companies on income earned from leasing cruise...
Section 168 of the Finance Act, 2016 (Chapter VIII) governs the processing of statements furnished under...
Section 54EC of the Income Tax Act, 1961, provides tax exemption on long-term capital gains (LTCG) from...
Here’s a consolidated table of the revised TDS threshold limits effective from April 1, 2025, based on...
A Charitable and Religious Trust is a type of non-profit organization that is formed for the purpose...
Key Rule
When an individual converts their self-acquired property into HUF (Joint Family) property, any...
The Income Tax Act, 1961 allows charitable and religious trusts to apply for belated registration under Section...