Under the Income Tax Act, 1961, certain transactions or scenarios are treated as “deemed profits” and...
Here’s a detailed analysis of Section 275 of the Income Tax Act, 1961, which governs the time limits...
Under Section 10(18) of the Income Tax Act, certain awardees and their family members are eligible for...
Under Section 237 of the Income Tax Act, 1961, the following persons are entitled to claim a refund of...
E-Invoicing has been implemented in India in a phased manner since 1st October 2020. Let us discuss whether...
Applicable to: Individuals & HUFs
This section provides tax relief for expenses incurred on the care...
Section 10(32) of the Income Tax Act provides a modest exemption when a minor child’s income is clubbed...
Section 10(23DA) of the Income Tax Act provides a tax exemption for income earned by a securitisation...
Applicable to: Indian Companies
This section provides 100% tax deduction for contributions made by Indian...
HRA (House Rent Allowance) is a salary component that helps employees cover rental expenses. Under Section...
In the realm of tax enforcement, the power of inspection, search, and seizure plays a pivotal role in...
1. Set-Off Rules for Current Year Losses
Intra-head adjustment (Section 70):
Business losses can be...
Section 80C of the Income Tax Act allows individuals to claim deductions on certain investments and expenses,...
A recognized provident fund is a retirement savings scheme that is approved by the government. It is...
Section 9 of the Income Tax Act, 1961, is a critical provision that determines when income is considered...
Here’s a detailed explanation of Penalty under Section 271AAC of the Income Tax Act, 1961, which applies...
Section 65 clarifies the tax liability of the transferee (recipient of income/assets) when income is...
1. Overview
Under Section 210(1) of the Income Tax Act, 1961, taxpayers liable for advance tax must voluntarily...
Agricultural income and its tax treatment in India fall under Section 10(1) of the Income Tax Act, 1961....
Sections 15-17 Guide : Learn How To Compute Income From Salaries Under India’s Income Tax Act....