Section 10(44) of the Income Tax Act, 1961 provides for exemption from income tax in India in respect...
Section 10(23D) of the Income Tax Act provides a tax exemption for the income of certain mutual funds...
Is one of the most well-known investment schemes offered by the India Post. While the scheme is open...
The transformation of a Partnership Firm or a Proprietorship Firm into a Private Limited Company is a...
Section 10(5) of the Income Tax Act allows for certain tax exemptions on travel expenses provided by...
Section 132 of the Income Tax Act empowers tax authorities to conduct searches and seize undisclosed...
1. Overview
Introduced: Finance Act 2021 (effective from 1st July 2021).
Purpose: Imposes higher Tax...
Form 10-IEA is a crucial document for taxpayers for AY 2024-2025 and onwards. It allows individuals and...
Voluntary Retirement Scheme (VRS) is a mechanism used by companies to reduce their workforce by offering...
Notification No. 09/2025 [F. No. 370142/18/2024-TPL] Dated 21th January, 2025
MINISTRY OF FINANCE
(Department...
Purpose:
This section provides full tax exemption on certain allowances received by:
Members of Parliament...
Under the Goods and Services Tax (GST) regime in India, healthcare services and hospital room rent are...
Tax Audit Forms
The Incomes prescribed two types of forms for tax audit:
Audit Report:
The audit report...
1. Primary Responsibilities of Deductor
Tax Deduction at Source:
Must deduct correct % as per Income...
Applicable to: *Resident Individuals with 40%+ Disability*
This section provides fixed tax deductions to...
The article you’re viewing discusses significant changes to the regulations governing Charitable Trusts...
Section 10(6D) provides a tax exemption to non-residents (other than foreign companies) on income received...
Section 10(32) of the Income Tax Act provides a modest exemption when a minor child’s income is clubbed...
Allowances form a significant part of salary income and are classified into three categories for tax...
Purpose:
This section provides a full tax exemption on income earned by scientific research associations that...