1. Perquisites [(Section 17(2)]- Income under the head Salaries
Section 17(2) of the Income-tax Act,...
Section 74 of the Income Tax Act, 1961 governs the treatment of capital losses, providing specific rules...
The Income Tax Act, 1961, provides a special procedure for assessments in search cases to ensure thorough...
Unit Linked Insurance Plans (ULIPs) are a unique financial product that offers the dual benefits of life...
Introduction
Section 54B of the Income Tax Act, 1961, provides an exemption on capital gains arising...
1. Gratuity
Gratuity is a payment made by the employer to an employee in appreciation of the past services...
Section 54G of the Income Tax Act, 1961, provides tax exemption on capital gains arising from the transfer...
Section 80DDB of the Income Tax Act in India provides a deduction for individuals and Hindu Undivided...
Tax incentives to International Financial Services Centre
International Financial Services Centre (IFSC)...
(1) Unit Linked Insurance Policies (ULIPs) have gained popularity as a dual investment-cum-insurance...
Section 9, Income Accrue or Deemed to Accrue or Arise in India :
Section 9 describes the Incomes which...
Applicable to: Individual authors/researchers (Indian residents)
This section provides tax relief on royalty...
Section 192 mandates employers to deduct Tax Deducted at Source (TDS) from employees’ salaries...
Section 194-O of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payments made by e-commerce...
Income from salaries is taxable under Sections 15-17 of the Income Tax Act, 1961. It includes all remuneration...
1. Applicability
Section 56(2)(ib) covers casual and non-recurring income from:
Lotteries(including...
Here’s a detailed analysis of Section 271J of the Income Tax Act, 1961, which imposes penalties...
Section 10(10A) of the Income Tax Act in India relates to the tax treatment of payments made in commutation...
To establish a legally valid charitable or religious trust, follow these key steps under Indian law:
1....
The Finance (No. 2) Bill, 2024, introduces significant amendments to the Central Goods and Services Tax...