Section 193 of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on interest earned from...
A survey under Section 133A of the Income Tax Act, 1961 is a legal procedure allowing income-tax authorities...
Section 234G of the Income Tax Act, 1961, imposes a late fee on institutions, trusts, or funds that fail...
Under the Income Tax Act, 1961, taxpayers have several remedies against orders passed by the Commissioner...
The commuted value of pension refers to the lump sum amount received by an employee in lieu of a portion...
Section 273AA of the Income Tax Act, 1961, empowers the Principal Commissioner or Commissioner to grant...
Section 28 of the Income Tax Act, 1961, is a key provision that defines the types of income chargeable...
(A) Valuation of Perquisites: Sweeper, Gardener, Watchman, or Personal Attendant [Rule 3(3)]
Under Rule...
Applicable to: Individuals & HUFs
This section provides tax benefits for health-related expenditures,...
Understanding Section 10(8)
Section 10(8) provides tax exemption for income received by:
Foreign technicians/experts
Employees...
Section 220(2) of the Income Tax Act, 1961, imposes interest @ 1% per month on unpaid tax demands if...
Section 196C of the Income Tax Act, 1961 mandates Tax Deducted at Source (TDS) on income paid to non-residents (including...
Section 16 allows three key deductions from gross salary income before computing taxable salary. These...
Capital assets are classified into different categories under the Income Tax Act, 1961, each with unique...
The Finance Bill 2025, presented by Finance Minister Nirmala Sitharaman as part of the Union Budget 2025-26,...
Section 10(4C) of the Income Tax Act, 1961 in India provides an exemption for interest income earned...
Section 10(23FC) of the Income Tax Act provides a tax exemption for specific types of income earned by...
Section 73 of the Income Tax Act, 1961, governs the treatment of speculation business losses, imposing...
1. Set-Off Rules for Current Year Losses
Intra-head adjustment (Section 70):
Business losses can be...
Section 10(32) of the Income Tax Act provides a modest exemption when a minor child’s income is clubbed...