1. Applicability of Section 56(2)(ic)
This provision covers any sum of money received by an employer from...
Section 10(32) of the Income Tax Act provides a modest exemption when a minor child’s income is clubbed...
Here’s a detailed analysis of Section 273A of the Income Tax Act, 1961, which empowers tax authorities...
Following goods are being exempted from levy of Social Welfare Surcharge
S. No.
Description
1.
Natural...
Special Economic Zones (SEZs) have emerged as key drivers of economic growth and development in many...
1. Provisions of Section 79 not to apply In case of Strategic Disinvestment of Public Sector Companies...
Under the Income Tax Act, 1961, the Commissioner of Income Tax (Exemption) [CIT(E)] has the authority...
1. Introduction of Block Assessment Provisions in cases of Search under Section 132 and Requisition under...
Here’s a detailed explanation of Section 269SS of the Income Tax Act, 1961, which governs the mode of...
Section 234C of the Income Tax Act, 1961, pertains to the levy of interest for deferment of advance tax....
Here’s a detailed table summarizing the tax treatment of Provident Fund (PF) contributions, interest,...
Section 241A allows the Income Tax Department to withhold refunds in certain cases, even if a taxpayer...
Under Section 139(4B) of the Income Tax Act, 1961, political parties in India are mandatorily required to...
Applicable to: Individuals & HUFs (Non-Senior Citizens)
This section provides tax relief on interest...
Leave encashment refers to the practice of converting accumulated leave into cash. Many organizations...
Section 10(23C) of the Income Tax Act, 1961 provides for the exemption of income of certain funds of...
Section 206CC of the Income Tax Act, 1961 mandates a higher Tax Collected at Source (TCS) rate if the...
Under Section 139(3) of the Income Tax Act, 1961, taxpayers can file a Return of Loss to carry forward...
Section 10(48) of the Income Tax Act provides an exemption in respect of income received by certain foreign...
1. Rationalization of provisions of TDS on sale of immovable property [Section 194-IA amended w.e.f....