Section 10(10C) of the Income Tax Act provides tax exemption on compensation received by an employee...
Any profits or gains arising from the transfer of a capital asset effected in the previous year, shall...
Here’s a detailed analysis of Section 139AA of the Income Tax Act, 1961, which mandates the quoting and...
1. Legal Basis
Section 206C(6A)empowers tax authorities to impose penalties under Section 221 on sellers...
Here’s a detailed analysis of Section 273A of the Income Tax Act, 1961, which empowers tax authorities...
The Central Board of Direct Taxes (CBDT) has issued Notification No. 2 of 2024, which addresses the time...
The Income Tax Bill 2025 will come into effect from April 1, 2026, after it is vetted by a Select Committee...
When it comes to dealing with various processes and procedures, understanding the time limits, forms,...
Section 153 prescribes strict deadlines for completing assessments, reassessments, and recomputations under...
Section 194M of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on certain payments made...
Section 10(23BBG) of the Income Tax Act provides a full tax exemption for the income of the Central Electricity...
Section 10(23FC) of the Income Tax Act provides a tax exemption for specific types of income earned by...
Income from salaries is taxable under Sections 15-17 of the Income Tax Act, 1961. It includes all remuneration...
1. Legal Basis
Proviso to Section 206C(3): Requires sellers/collectorsto submit a statement of TCS collected...
Section 144 of the Income Tax Act, 1961, empowers the Assessing Officer (AO) to determine a taxpayer’s...
Section 71B of the Income Tax Act, 1961, governs the carry forward and set-off of losses from house property,...
Section 28 of the Income Tax Act, 1961 defines the incomes chargeable under the head “Profits and...
Here’s a detailed explanation of Penalty under Section 271AAC of the Income Tax Act, 1961, which applies...
Voluntary Retirement Scheme (VRS) is a mechanism used by companies to reduce their workforce by offering...
Section 10(10CC) of the Income Tax Act, 1961 deals with the taxation of non-monetary perquisites provided...