Section 10(10C) of the Income Tax Act provides tax exemption on compensation received by an employee...
1. Basic Condition
A taxpayer is liable to pay advance tax if:
Estimated tax liability(after deducting...
Section 10(23FE) of the Income Tax Act provides an exemption in respect of certain income of wholly owned...
Here’s a detailed breakdown of the tax rates on long-term capital gains (LTCG) for assets not covered...
Amendment of section 5.
147. In the Integrated Goods and Services Tax Act, 2017 (13 of 2017.) (hereinafter...
Under Section 261 of the Income Tax Act, 1961, an appeal can be filed before the Supreme Court of India against...
1. Understanding the Principle of Mutuality
The principle of mutuality relates to the notion that a person...
Here’s a structured table summarizing the penal provisions related to Tax Collected at Source (TCS) under Sections...
Section 43CA of the Income Tax Act, 1961 addresses the taxation of undervalued transactions involving business...
Section 10(4F) specifically applies to income earned by a non-resident from a unit of an International...
Here’s a detailed explanation of Section 206CB: Processing of Statements of Tax Collected at Source...
1. Scope of Total Income / Incidence of Tax [Section 5]
Total income of an assessee cannot be computed...
What is Assessment?
Assessment under the Income Tax Act, 1961 refers to the process by which the Income...
The Income Tax Act, 1961 allows charitable and religious trusts to apply for belated registration under Section...
Under Section 139(4B) of the Income Tax Act, 1961, political parties in India are mandatorily required to...
Section 132 of the Income Tax Act, 1961, empowers the Income Tax Department to conduct search and seizure...
Provident Fund Scheme is a welfare scheme for the benefit of the employees. Under this scheme, certain...
1. Business [Section 2(13)]
Business includes:
Any trade, commerce, or manufacturing activity;
Any adventure...
(1) When a company goes into liquidation, it is important to understand the implications it can...
Discover The Latest Income Tax Slabs FY 2025-26 (AY 2026-27). Learn How to Pay Zero Tax Up To ₹12.75...