Section 10(23FC) of the Income Tax Act provides a tax exemption for specific types of income earned by...
A recognized provident fund is a retirement savings scheme that is approved by the government. It is...
Under the Explanation to section 288(2), an “accountant” means a chartered accountant within...
Section 115BAB of the Income Tax Act, 1961, was introduced by the Finance Act, 2019, to provide a lower...
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
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New...
The rules for valuation of specified fringe benefits or amenities arc as under:
1. Interest Free Or...
Applicable to: Individual authors/researchers (Indian residents)
This section provides tax relief on royalty...
1. Provisions of Section 79 not to apply In case of Strategic Disinvestment of Public Sector Companies...
1. Business [Section 2(13)]
Business includes:
Any trade, commerce, or manufacturing activity;
Any adventure...
The Capital Gains Accounts Scheme (CGAS) 1988 is a scheme under the Income Tax Act, 1961, in India. It...
Section 10(10CC) of the Income Tax Act, 1961 deals with the taxation of non-monetary perquisites provided...
Section 285BB of the Income Tax Act, 1961, mandates the Income Tax Department to provide taxpayers with...
Section 10(10BC) of the Income Tax Act, 1961, provides an exemption for compensation received by an individual...
Under the Income Tax Act, 1961, certain transactions or scenarios are treated as “deemed profits” and...
Section 70 of the Income Tax Act, 1961, allows taxpayers to adjust losses from one source against income...
Section 234A(4) of the Income Tax Act, 1961, deals with the adjustment of interest when there is a subsequent revision,...
Here’s a comprehensive analysis of Section 56(2)(viib) of the Income Tax Act, 1961, which taxes share...
Section 140 of the Income Tax Act, 1961 specifies who must verify the return of income and the authorized...
Charitable and religious trusts or institutions registered under the Income Tax Act, 1961, are generally...
In order to monitor high-value transactions conducted by taxpayers, a significant regulatory measure...