Section 65: Audit By Tax Authorities:
Understanding the intricate process of GST audits, as outlined...
The Government of India’s Department of Posts, Ministry of Communications, offers fixed deposit accounts...
Applicable to: Salaried (without HRA) & Self-Employed Individuals
This section provides tax relief...
Section 10(23FBC) of the Income Tax Act provides a tax exemption for income earned by a unit holder from...
Section 71B of the Income Tax Act, 1961, governs the carry forward and set-off of losses from house property,...
Section 10(20) of the Income Tax Act, 1961 provides exemption from income tax for the income of a local...
Section 10(23C) of the Income Tax Act, 1961 provides for the exemption of income of certain funds of...
National Pension System (NPS) is a retirement benefit Scheme introduced by the Government of India to...
1. Overview of Section 58
Section 58 specifies expenses that cannot be deducted while computing taxable...
Section 194T, introduced by the Finance (No. 2) Bill, 2024, is effective from April 1, 2025. This section...
Section 194LC of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on interest payments...
Leave salary, or leave encashment, refers to the payment an employee receives for unused leave days....
Applicable to: Individuals & HUFs
Section 80C is one of the most popular tax-saving sections, allowing...
Section 140 of the Income Tax Act, 1961 specifies who must verify the return of income and the authorized...
TDS on Salary (Section 192) and TDS on Provident Fund (Section 192A) are provisions under the Income...
Here’s a detailed explanation of Section 170 (Interest on Delayed Payment of Equalisation Levy) under...
Here’s a detailed summary of the removal of the Equalisation Levy (EL) in India, including key changes,...
Purpose:
This section provides a full tax exemption on pension received by government employees (or their...
The Indian Income Tax Act, 1961, governs the taxation of various sources of income in India. One such...
1. Dividend Declaration vs. Retained Earnings
Dividends:
Taxable in shareholders’ hands (10%...