Understanding Section 41(1)(a) of the Income Tax Act: Implications for Taxpayers.
Section 41(1)(a) of the Income Tax Act is a provision that deals with the treatment of certain gains and profits as taxable income. This...
Understanding Sections 90 and 91 of the Income Tax Act for Double Taxation Relief
Section 90 and 91 of the Income Tax Act: An Overview
The Income Tax Act is the governing law in India that outlines the taxation...
Section 13A of Income Tax Act 1961: An Overview and Frequently Asked Questions (FAQs)
Introduction
Section 13A of the Income Tax Act, 1961, deals with the taxation of income received by a person who is a member of Parliament...
Understanding Section 192 of the Income Tax Act: A Comprehensive Guide to TDS on...
Introduction
The Indian Income Tax Act, 1961, is a comprehensive statute that governs the taxation of income in India. One of the important sections of...
Depreciation: Understanding the Rules and Guidelines Set Forth in Section 32 of the Income...
Depreciation is an important concept in the field of taxation. It is a measure of the wear and tear of an asset over time...
Understanding Section 2(22) of Income Tax Act: Definition of Dividend and Tax Implications
Section 2(22) of the Income Tax Act, 1961 defines the term "dividend" and is an important provision that has significant implications for taxpayers. Dividend...
Understanding Section 45(5a) of the Income Tax Act: Implications of Converting Stock-in-Trade into Capital...
Section 45(5a) of the Income Tax Act, 1961, was introduced in the Finance Act, 2017. It deals with the tax implications on the conversion...
Section 234E of Income Tax Act 1961: All You Need to Know About Penalties...
Section 234E of the Income Tax Act, 1961, is a provision that was introduced in 2015 to penalize taxpayers who fail to file their...
Section 129 of Income Tax Act: Understanding Seizure of Assets by Tax Authorities
Section 129 of the Income Tax Act: An Overview
Section 129 of the Income Tax Act deals with the provisions related to the 'Seizure of...
Section 115BAA of Income Tax Act: Eligibility, Implications, and Benefits
Section 115BAA of the Income Tax Act, 1961 is a relatively new provision that was introduced in the Finance Act, 2019. This provision allows...