Section 10(10C) of the Income Tax Act provides tax exemption on compensation received by an employee...
Tax incentives to International Financial Services Centre
International Financial Services Centre (IFSC)...
Section 293D empowers the Central Government to implement a faceless (digital) scheme for granting approvals...
Section 156 of the Income Tax Act, 1961, governs the issuance of demand notices by the Assessing Officer...
Under the Income Tax Act, 1961, individuals and Hindu Undivided Families (HUFs) can claim exemptions...
Applicable to: Individuals & HUFs
This section provides tax relief for expenses incurred on the care...
Notification No. 02/2025 [F. No. 275/110/2024-IT(B)] Dated 2nd January, 2025
MINISTRY OF FINANCE
(Department...
Under Section 240 of the Income Tax Act, 1961, refunds arising from appellate or other proceedings are...
Section 44AA of the Income Tax Act, 1961, mandates certain taxpayers to maintain books of accounts, while Rule...
Sovereign Gold Bonds (SGBs) are government securities denominated in grams of gold. They are substitutes...
Section 115BAC of the Income Tax Act, 1961, introduces a simplified tax regime with lower slab rates...
Leave encashment refers to the amount received by an employee in exchange for unused leave balance at...
Understanding Section 10(10A)
Section 10(10A) provides tax exemption for commuted pension amounts received...
Section 194LBC of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on income distributed...
(A) In the case of every Individual or Hindu Undivided Family (HUF)
(A1) If the individual...
Section 10(23BBF) of the Income Tax Act provides a phased tax exemption for the North-Eastern Development...
Applicable to: Developers of Affordable Housing Projects
This section provides a 100% tax exemption on...
The Income Tax Law in India is a complex and ever-changing set of regulations that govern the taxation...
1. Overview
When a taxpayer fails to pay advance tax voluntarily, the Assessing Officer (AO) can issue...
Section 10(11A) provides full tax exemption on withdrawals from a Sukanya Samriddhi Account (SSA), making...