Section 144C of the Income Tax Act: A Comprehensive Guide and FAQs
Section 144C of the Income Tax Act, of 1961, deals with the procedure for a draft assessment order. The section was introduced in 2017...
Understanding Section 11(1) of the Income Tax Act: FAQs and Benefits of Exemption for...
Section 11(1) of the Income Tax Act is a provision that provides an exemption from income tax to trusts and institutions that are established...
Section 80DDB of Income Tax Act: Understanding Eligibility, Specified Diseases, and Benefits
Section 80DDB of the Income Tax Act, 1961 provides for a deduction for expenses incurred by taxpayers on the treatment of specified diseases. The...
Section 142 of the Income Tax Act – Powers and Limitations of the Assessing...
Section 142 of the Income Tax Act empowers income tax authorities to make inquiries, examine witnesses, and call for documents during the assessment or...
Section 49 of the Income Tax Act: Rules for Determining Cost of Acquisition of...
Section 49 of the Income Tax Act is a crucial provision that outlines the rules for determining the cost of acquisition of capital assets...
Understanding Section 271 of the Income Tax Act: Penalties and FAQs
Section 271 of the Income Tax Act deals with the penalties that can be imposed on taxpayers for various non-compliances. The section provides for...
Understanding Section 115QA of the Income Tax Act: Tax on Buyback of Shares
Section 115QA of the Income Tax Act was introduced in the Finance Act, of 2013, and pertains to the tax on the buyback of...
Understanding Section 40(b) of the Income Tax Act, 1961: Conditions for the Deduction of...
Section 40(b) of the Income Tax Act, 1961, deals with the deduction of remuneration paid to partners of a firm. It specifies the conditions...
Understanding Section 44AB(b) of the Income Tax Act, 1961: A Comprehensive Guide
Section 44AB(b) of the Income Tax Act, 1961, is an important provision that mandates certain taxpayers to get their accounts audited. In this blog...
Understanding Section 115BA of the Income Tax Act for New Manufacturing Companies
Section 115BA of the Income Tax Act: Understanding the Provisions
Section 115BA of the Income Tax Act was introduced in the Union Budget of 2016...