Section 273AA of the Income Tax Act, 1961, empowers the Principal Commissioner or Commissioner to grant...
Section 54H of the Income Tax Act, 1961 in India provided for an extension of time for acquiring a new...
Section 10(37) of the Income Tax Act, 1961 provides for the exemption of capital gains on compensation...
Under Section 10(35A) of the Act, any income received by an investor from a securitisation trust is exempt...
Here’s a detailed analysis of Section 273B of the Income Tax Act, 1961, which provides immunity from...
Here’s a detailed breakdown of the penalties for failure to deduct or pay Equalisation Levy (EL) under Section...
Section 234H of the Income Tax Act, 1961 imposes a fee for failure to intimate/link one’s Aadhaar...
Section 10(44) of the Income Tax Act, 1961 provides for exemption from income tax in India in respect...
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
******
New...
Section 234C of the Income Tax Act, 1961, pertains to the levy of interest for deferment of advance tax....
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
New Delhi,...
Under Section 248 of the Income Tax Act, 1961, a person who denies liability to deduct tax at source...
Understanding the intricacies of advance tax and self-assessment tax is crucial for both compliance and...
1. Basic Condition
A taxpayer is liable to pay advance tax if:
Estimated tax liability(after deducting...
Purpose:
This section provides tax exemption to professional associations (like medical councils, bar...
Purpose:
This section provides a full tax exemption on pension received by government employees (or their...
Applicable to: Individuals & HUFs (Non-Senior Citizens)
This section provides tax relief on interest...
The taxpayer has to communicate the details of his taxable income/loss to the Income tax Department.
These...
Yes, a tax audit under Section 44AB is compulsory even if the accounts are already audited under:
Other...
Here’s a detailed breakdown of Penalty under Section 271DA of the Income Tax Act, 1961, for failure to...