1. Legal Status of Default
Deductor becomes “Assessee in Default”for:
Failure to deduct...
The Income Tax Appellate Tribunal (ITAT) derives its adjudicatory powers from Section 254 of the Income...
Notification No. 02/2025 [F. No. 275/110/2024-IT(B)] Dated 2nd January, 2025
MINISTRY OF FINANCE
(Department...
Applicable to: All taxpayers (Individuals, HUFs, Firms, etc.)
This section provides 100% deduction for...
Notified special allowance is an allowance that has been notified by the Central Government under Section...
Ministry of Finance
CAPITAL GAINS TAXATION SIMPLIFIED AND RATIONALISED
SHORT TERM GAINS TO ATTRACT A...
Section 80DD of the Income Tax Act in India provides a deduction for individuals or Hindu Undivided Families...
Applicable to: Manufacturing, SMEs, and select service providers
This section provides partial to full...
Section 49 specifies how the cost of acquisition of a capital asset is determined when it is acquired...
The Income Tax Act, 1961, includes specific provisions to protect the interests of Micro, Small, and...
A survey under Section 133A of the Income Tax Act, 1961 is a legal procedure allowing income-tax authorities...
Purpose:
This section provides a full tax exemption on income earned by scientific research associations that...
Here’s a structured overview of Collection of Tax at Lower Rate under Section 206C(9), (10), (11)...
Under Section 56(2)(ib) of the Indian Income Tax Act, 1961, income from winnings is subject to taxation....
Applicable to: Individuals & HUFs (Non-Senior Citizens)
This section provides tax relief on interest...
Section 10(16) of the Income Tax Act, 1961 provides exemption from income tax for scholarships granted...
Section 28 of the Income Tax Act, 1961, is a key provision that defines the types of income chargeable...
Section 293D empowers the Central Government to implement a faceless (digital) scheme for granting approvals...
Under the Income Tax Act, there are certain provisions that govern the taxation of income earned by minors....
Section 55(1)(b) of the Income Tax Act, 1961, defines the cost of improvement for capital assets, which...