1. Importance of Residential Status
Residential status determines:
Which incomes are taxable in India...
Section 194LB of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on interest payments...
Section 10(23EA) of the Income Tax Act provides a tax exemption for income received by an Investor Protection...
Here’s a comprehensive analysis of Section 56(2)(viib) of the Income Tax Act, 1961, which taxes share...
Section 115BAA of the Income Tax Act, 1961 provides a concessional tax rate of 22% (plus surcharge &...
The Inverted Duty Structure (IDS) under the Goods and Services Tax (GST) regime is a situation where...
Form 10-IEA is a crucial document for taxpayers for AY 2024-2025 and onwards. It allows individuals and...
1. Provision by the employer of services of a Sweeper, a Gardener, a Watchman or Personal Attendant...
Gratuity is a payment made by the employer to an employee in appreciation of the past services rendered...
Under Section 139C of the Income Tax Act, 1961, the Central Board of Direct Taxes (CBDT) has the authority...
Section 10(34A) of the Income Tax Act provides a tax exemption for shareholders on income received from...
HRA (House Rent Allowance) is a salary component that helps employees cover rental expenses. Under Section...
Section 234B(4) of the Income Tax Act, 1961 provides for the adjustment of interest when there is a subsequent...
Section 80TTB of the Income Tax Act, 1961 provides a special deduction to senior citizens in respect...
Applicable to: DPIIT-recognized startups (Private Companies/LLPs)
This section provides a 100% tax deduction...
Understanding Section 10(7)
Section 10(7) provides a complete tax exemption for:
Allowances
Perquisites
paid outside...
Section 234B(1) of the Income Tax Act, 1961, imposes interest if an assessee either:
Fails to pay advance...
1. Investment in Sukanya Samriddhi Yojana for Tax Saving for AY 2022-23 & 2023-24
Sukanya Samriddhi...
Section 10(4D) of the Income Tax Act, 1961 in India provides an exemption for certain income earned by...
Introduction
Section 54B of the Income Tax Act, 1961, provides an exemption on capital gains arising...