Understanding Section 143(1B) of the Income Tax Act
Section 143(1B) is a relatively new provision added to the Income Tax Act, 1961. It was introduced by the Finance Act, 2016 and has...
Understanding Section 115D of the Income Tax Act: A Comprehensive Guide
The Indian Income Tax Act is a complex set of laws and regulations that govern the taxation of individuals and businesses in the country....
Understanding TDS under Section 194Q of Income Tax Act
Tax Deducted at Source (TDS) is a mechanism used by the government to collect tax from the income earned by individuals and businesses. TDS...
Understanding Section 24 of the Income Tax Act: Deductions on Interest Paid on Home...
As a homeowner, one of the benefits you can enjoy is the deduction on the interest paid on your home loan. This is made...
Understanding Section 36(1)(vii) of the Income Tax Act: Deductions for Maintenance and Repair Expenses
Section 36(1)(vii) of the Income Tax Act is a provision that allows for the deduction of certain expenses related to the maintenance and repair...
Section 80CCD(1B) of Income Tax Act 1961: All You Need to Know
Section 80CCD(1B) of the Income Tax Act, 1961 is a provision that was introduced in the Finance Act of 2015. It provides an additional...
Section 17(2) of Income Tax Act 1961: Understanding Taxation of Perquisites
Section 17(2) of the Income Tax Act, 1961 deals with the taxability of perquisites provided by an employer to an employee. Perquisites refer to...
Section 144 of Income Tax Act 1961: Understanding its Implications and Importance.
Section 144 of the Income Tax Act, 1961 empowers the Assessing Officer (AO) to make a best judgement assessment when the taxpayer fails to...
Section 40A(2)(b) of the Income Tax Act: Understanding the Provision and Its Impact on...
Section 40A(2)(b) of the Income Tax Act, 1961 is a provision that restricts the deduction of certain expenses from the taxable income of a...
Deduction Under Section 80D of Income Tax Act: A Comprehensive Guide
The Income Tax Act, 1961, provides various tax-saving provisions to taxpayers. One such provision is section 80D, which allows taxpayers to claim deductions on...