Section 80DDB of Income Tax Act: Eligibility, Deduction Limits, and FAQs
Section 80DDB of the Income Tax Act, 1961 allows for a tax deduction on medical expenses incurred for the treatment of specified diseases. In...
Understanding Section 9(1)(vii) of the Income Tax Act, 1961: Implications for Non-Resident Taxpayers
Section 9(1)(vii) of the Income Tax Act, 1961 is an important provision that deals with taxation of income that is deemed to accrue or...
Understanding Amalgamation under the Income Tax Act: Key Provisions and Tax Implications
Introduction
Amalgamation is a process where two or more companies merge together to form a new company, which acquires all the assets and liabilities of...
Understanding Sections 11 and 12 of the Income Tax Act: Exemptions for Trusts and...
The Income Tax Act is a complex law that governs the taxation of income earned by individuals and entities in India. One of the...
Understanding Section 115-O(1A)(i) of Income Tax Act: Tax on Distributed Income for Buyback of...
Section 115-O(1A)(i) of the Income Tax Act, 1961 deals with the tax on distributed income by domestic companies. This section was introduced in the...
Section 16(iii) of Income Tax Act 1961: Valuation and Taxability of Perquisites
Section 16(iii) of the Income Tax Act, 1961 refers to the provisions related to the valuation of perquisites provided by the employer to the...
Understanding Section 192(b) of the Income Tax Act: Tax Deduction on Arrears of Salary
Section 192(b) of the Income Tax Act is a provision that deals with the taxability of arrears of salary received by an employee. This...
Understanding Section 143(2) of the Income Tax Act, 1961: FAQs and Importance
Understanding Section 143(2) of Income Tax Act, 1961
The Income Tax Act, 1961 is the primary legislation that governs the taxation of income in India....
Understanding Section 115TD of the Income Tax Act: Impact on Business Trusts and Investment...
Introduction:
The Income Tax Act, 1961, has various provisions to ensure that taxpayers pay their taxes appropriately. One such provision is Section 115TD, which deals...
Section 10(38) of Income Tax Act: Benefits, Challenges, and FAQs Explained
Section 10(38) of the Income Tax Act, 1961 is a significant provision that deals with the exemption of long-term capital gains arising from the...