1. Key Features of Section 69B
Objective: Targets underreported investmentswhere actual expenditure...
A format to compute the capital gain is given below:
Computation of Short-term Capital Gains
Full...
Notification No. 05/2025 [F. No. 300196/37/2019-ITA-I] Dated 3nd January, 2025
MINISTRY OF FINANCE
(Department...
1. Understanding of Section 80-IAC
The Income Tax Act, 1961 provides various deductions for taxpayers...
Section 10(10C) of the Income Tax Act provides an exemption to employees who receive a certain amount...
Agricultural income and its tax treatment in India fall under Section 10(1) of the Income Tax Act, 1961....
INTRODUCTION:
Form 15CA and Form 15CB are essential documents under the Income Tax Act, 1961, for foreign...
Section 10(10D) of the Income Tax Act deals with the tax treatment of the sum assured received from a...
Section 192A of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on premature withdrawals...
As already discussed, motor car/other vehicles, provided by the employer, is a perquisite only for specified...
The treatment of business income for a charitable or religious trust under the Income Tax Act, 1961 is...
(A) In the case of every Individual or Hindu Undivided Family (HUF)
(A1) If the individual...
In the realm of tax enforcement, the power of inspection, search, and seizure plays a pivotal role in...
The commuted value of pension refers to the lump sum amount received by an employee in lieu of a portion...
Section 10(12C) of the Income Tax Act, 1961 provides important tax benefits for individuals enrolled...
Section 191 provides for situations where tax is not deducted at source (TDS) as required under other...
Applicable to: Individuals (Salaried & Self-Employed)
This section provides tax benefits for contributions...
Section 54GB of the Income Tax Act, 1961 in India provides for the exemption of long-term capital gains...
Applicable to: Individuals
This section allows a deduction for contributions made to approved pension...
1. Provision inserted under Clause ( c ) of explanation to Section 10(4D) applicable w.e.f. 2022-23
As...