While the income from other sources is taxable, there are certain amounts that are not deductible while...
Understanding and Conditions of Section 115F
As a Non-Resident Indian (NRI), understanding the tax implications...
Being a Member of Parliament (MP) or a Member of Legislative Assembly (MLA) is a position of great responsibility....
Every person shall quote his permanent account number in all documents pertaining to the transactions...
A scrutiny (regular) assessment under Section 143(3) is a comprehensive evaluation of a taxpayer’s return...
Income arising to a shareholder on account of Buy Back of Shares is governed by Section 10(34A) of the...
Special Provisions for computing Business income in certain cases on the basis of Estimated Income Method...
Understanding of Section 80P
Section 80P of the Income Tax Act, 1961 provides a deduction in respect...
1. Allowances- Income under the head Salaries
Allowance is a fixed monetary amount paid by the employer...
GST Audit under Section 65 of the CGST Act, 2017 is conducted by the tax authorities to verify the correctness...
Section 80GG of the Income Tax Act allows individuals to claim deductions for the rent paid when they...
House Rent Allowance (HRA) is a common component of most employees’ salary packages. It is provided...
Section 244A governs the payment of interest on income tax refunds to assessees. Below is a detailed...
Section 59 deals with deemed income that becomes taxable under the head “Income from Other Sources” when...
Here’s a detailed breakdown of incomes exempt under Section 11 of the Income Tax Act, 1961, for charitable...
Government of India
Department of Revenue
Ministry of Finance
Central Board of Direct Taxes
New Delhi,...
Section 10(23FB) of the Income Tax Act provides a tax exemption for income earned by a Venture Capital...
Under the Employees’ Provident Fund (EPF) scheme, employers are required to contribute to a Recognised...
Section 10(4E) of the Income Tax Act, 1961 provides an exemption from tax on income arising from the...
Section 142 empowers the Assessing Officer (AO) to conduct a preliminary inquiry before finalizing an...