Section 10(6D) provides a tax exemption to non-residents (other than foreign companies) on income received...
Under the Goods and Services Tax (GST) regime, Goods Transport Agency (GTA) and EWAY BILL are critical...
Here’s a detailed breakdown of Section 271AAD of the Income Tax Act, 1961, which imposes penalties for...
Under Section 240 of the Income Tax Act, 1961, refunds arising from appellate or other proceedings are...
Section 80TTB of the Income Tax Act, 1961 provides a special deduction to senior citizens in respect...
Understanding Section 10(10)
Section 10(10) provides tax exemption on gratuity payments received by employees....
Section 194T, introduced by the Finance (No. 2) Bill, 2024, is effective from April 1, 2025. This section...
Here’s a detailed explanation of Penalty under Section 271H of the Income Tax Act, 1961, which applies...
Section 115BAB of the Income Tax Act, 1961, was introduced by the Finance Act, 2019, to provide a lower...
Section 10(23BBH) of the Income Tax Act provides a complete tax exemption for the income of Prasar Bharati...
Under the Income Tax Act, 1961, the Principal Chief Commissioner (PCCIT), Chief Commissioner (CCIT),...
1. Statutory Framework
Section 5 defines the scope of total income based on the taxpayer’s residential...
The Income Tax Act, 1961, provides specific cases where TDS is not required to be deducted, even if the...
Section 139(1) of the Income Tax Act, 1961, lays down the rules for who must file an Income Tax Return...
Section 10(10D) of the Income Tax Act, 1961, provides tax exemption on the sum received under a life...
Section 139(4) of the Income Tax Act, 1961, allows taxpayers to file a belated return if they miss the...
1. Basic Principle of Assessment
Clubbed income is assessed in the hands of the transferor (not the transferee)...
Here’s a detailed explanation of Section 173 (Penalty Not to Be Imposed in Certain Cases) under the Equalisation...
Under Section 237 of the Income Tax Act, 1961, the following persons are entitled to claim a refund of...
1. Enabling the Commissioner (Appeals) to levy Penalty under Section 271AAB. 271AAC and 271AAD of the...