Section 10(37) of the Income Tax Act provides a capital gains exemption for individuals or Hindu Undivided...
Trade unions play a crucial role in protecting the rights and interests of workers. They negotiate with...
Section 139D of the Income Tax Act, 1961, mandates electronic filing (e-filing) of income tax returns...
1. Legal Definition (Section 2(14))
A capital asset means:
Property of any kind held by an assessee...
Section 140A mandates taxpayers to self-assess their income, calculate tax liability, and pay any outstanding...
Section 45(1) of the Income Tax Act, 1961 is the foundational provision that defines how and when capital...
Under the Income Tax Act, 1961, individuals and Hindu Undivided Families (HUFs) can claim exemptions...
Section 37(1) of the Income Tax Act, 1961 is a crucial provision that allows businesses and professionals...
Special Provisions for computing Business income in certain cases on the basis of Estimated Income Method...
Under the Income Tax Act, 1961, Sections 115QA to 115QC impose a tax on distributed income when a domestic...
The Budget 2025 has introduced enhanced threshold limits for TDS, ensuring that smaller transactions...
Under the Indian Income Tax Act, 1961, the taxability of income from letting out of machinery, plant,...
Section 194-I of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on rent payments exceeding...
1. Provisions of Section 79 not to apply In case of Strategic Disinvestment of Public Sector Companies...
When it comes to retirement planning, superannuation funds play a crucial role in providing financial...
Section 10(4E) of the Income Tax Act, 1961 in India provides an exemption for income earned by a non-resident...
1. Business [Section 2(13)]
Business includes:
Any trade, commerce, or manufacturing activity;
Any adventure...
1. Basic Rule for HUF Residency
A HUF is Resident in India if:
“Control and management of its affairs...
Section 115JB ensures that companies with substantial book profits but low or no taxable income (due...
House Rent Allowance (HRA) is a common component of most employees’ salary packages. It is provided...