Income Tax

Section 80QQB: Tax Benefits for Authors on Royalty Income from Books

Section 80QQB: Tax Benefits for Authors on Royalty Income from Books

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Section 80QQB of the Income Tax Act, 1961, is a tax-saving provision that offers deductions on royalty income earned by authors of certain literary,...
Section 143(1A) of Income Tax Act: Compliance Requirements and Benefits for Taxpayers

Section 143(1A) of Income Tax Act: Compliance Requirements and Benefits for Taxpayers

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Section 143(1A) of the Income Tax Act, 1961 is an important provision that was introduced by the Finance Act, 2016. This provision requires taxpayers...
Understanding the Case Laws Related to Section 148 of the Income Tax Act: A Comprehensive Overview

Understanding the Case Laws Related to Section 148 of the Income Tax Act: A...

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Section 148 of the Income Tax Act empowers the assessing officer to reopen an assessment if he has reason to believe that income chargeable...
Understanding Section 111A of the Income Tax Act, 1961: Taxation of Short-Term Capital Gains on Equity Shares and Mutual Funds

Understanding Section 111A of the Income Tax Act, 1961: Taxation of Short-Term Capital Gains...

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Section 111A of the Income Tax Act, 1961 deals with the taxation of short-term capital gains arising from the sale of equity shares, units...
Understanding Exemptions Under Section 10 of the Income Tax Act

Understanding Exemptions Under Section 10 of the Income Tax Act

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Section 10 of the Income Tax Act provides for a variety of exemptions from taxation on certain types of income. These exemptions are designed...
All about section 73 of Income Tax Act

All about section 73 of Income Tax Act

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Section 73 of the Income Tax Act, 1961 is an important provision that deals with the treatment of losses incurred in speculation business. Speculation...
Section 80CCG: A Comprehensive Guide to Tax Benefits for First-time Investors under RGESS Scheme

Section 80CCG: A Comprehensive Guide to Tax Benefits for First-time Investors under RGESS Scheme

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Section 80CCG of the Income Tax Act, 1961 was introduced in the Union Budget of 2012-13 as a measure to encourage retail investors to...
Section 43(5) of the Income Tax Act

Understanding Section 43(5) of the Income Tax Act: The Importance of Actual Cost in...

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Section 43(5) of the Income Tax Act is a crucial provision that governs the tax treatment of expenses related to the acquisition of a...
Section 44A of the Income Tax Act

Understanding Section 44A of the Income Tax Act: Accounting Method for Businesses Dealing in...

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Section 44A of the Income Tax Act, 1961, deals with the method of accounting for computing profits and gains from businesses that involve stock...
Section 159 of the Income Tax Act

Understanding Section 159 of the Income Tax Act: Responsibilities and Liabilities of Legal Representatives...

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Section 159 of the Income Tax Act is a crucial provision that deals with the liability of legal representatives. This provision applies when a...