Section 25A of the Income Tax Act, 1961, governs the tax treatment of arrears of rent (unpaid rent recovered...
Income tax laws can be complex and confusing, especially when it comes to understanding the various exemptions...
Section 10(23BBF) of the Income Tax Act provides a phased tax exemption for the North-Eastern Development...
As per Part “C” of Schedule II of the Companies Act, 2013 after making following assumptions:
The...
Ministry of Finance
FAQs issued by CBDT on the new Capital Gains Tax Regime proposed in the Union Budget...
The Income Tax Appellate Tribunal (ITAT) is the second appellate authority under the Income Tax Act,...
Section 10(23BBB)- Tax Exemption for income earned by the European Economic Community (EEC) in India
Section 10(23BBB) of the Income Tax Act provides a tax exemption for income earned by the European Economic...
Section 10(2A) of the Income Tax Act, 1961 in India exempts a partner’s share in the total income...
Here’s a detailed breakdown of fully taxable allowances for the computation of salary income in India,...
Gratuity is a lump-sum payment made by an employer to an employee as a token of appreciation for long-term...
1. Clarification in respect of Disallowance under Section 14A in absence of any Exempt Income during...
Section 70 of the Income Tax Act, 1961, allows taxpayers to adjust losses from one source against income...
Ministry of Finance
HIGHLIGHTS OF THE UNION BUDGET 2024-25
Posted On: 23 JUL 2024 1:17PM by PIB Delhi
The...
Under the Income Tax Act, 1961, taxpayers have several remedies against orders passed by the Commissioner...
Section 10(11A) provides full tax exemption on withdrawals from a Sukanya Samriddhi Account (SSA), making...
1. Basic Principle of Assessment
Clubbed income is assessed in the hands of the transferor (not the transferee)...
The rules for valuation of specified fringe benefits or amenities arc as under:
1. Interest Free Or...
(1) Introduction to Section-71 (Inter-Head Adjustment)
Under the Indian Income Tax Act, 1961, taxpayers...
Following Business are required to get their Accounts compulsory Tax Audited by a Chartered Accountant...
The treatment of business income for a charitable or religious trust under the Income Tax Act, 1961 is...