Understanding Conveyance Allowance: Benefits, Tax Exemption, and FAQs
Conveyance allowance is a benefit that employers offer to their employees to cover their transportation expenses while commuting to work. The allowance is usually...
Disallowance of Expenses Incurred for Non-Compliance with Tax Laws (Section 24B)
Section 87A of the Income Tax Act, 1961 is a beneficial provision for individual taxpayers who fall in the lower income bracket. This section...
Understanding Section 194JA of Income Tax Act
Section 194JA of the Income Tax Act, 1961, deals with the TDS (Tax Deducted at Source) provisions applicable to remuneration paid to directors or...
Understanding Section 148 of the Income Tax Act 2021: An Overview
The Income Tax Act, 2021 is the latest legislation governing income tax in India. Section 148 of the Income Tax Act 2021 is a...
Understanding Section 54EC of the Income Tax Act: Benefits and Eligibility
Section 54EC of the Income Tax Act, 1961, provides tax benefits to individuals or Hindu Undivided Families (HUFs) who invest capital gains from the...
Understanding Section 210 of the Income Tax Act: All You Need to Know About...
Section 210 of the Income Tax Act, 1961 is an important provision that deals with the payment of advance tax. It is essential for...
An Overview of Section 206 CR of the Income Tax Act: TDS on Payments...
Section 206 CR of the Income Tax Act is an important provision that relates to the obligation of deducting tax at source (TDS) on...
Tax Implications of Owning Multiple Properties under Section 54 of the Income Tax Act
When it comes to buying a house, many individuals opt to purchase more than one property for various reasons. However, owning more than one...
Understanding Section 40A(3) of the Income Tax Act: Implications and Consequences
The Income Tax Act, of 1961, is one of the most significant tax laws in India that governs the taxation of individuals and businesses....
Understanding Section 9A of the Income Tax Act: Taxation of Income from Transfer of...
Section 9A of the Income Tax Act, 1961 was introduced through the Finance Act, 2021 and has been effective from 1st April 2021. This...