Understanding Section 194JB of Income Tax Act 2020-21: TDS on Dividends by Mutual Funds
Introduction
Section 194JB of the Income Tax Act, 1961 was introduced by the Finance Act, 2019 and it came into effect from 1st September 2019....
Understanding Deductions Allowed under Section 16 of Income Tax Act
In India, income tax is a mandatory tax levied by the government on individuals or entities earning a specific income. The Income Tax Act...
Section 115BAB of Income Tax Act: An Overview of Applicability, Benefits, and Impact on...
Introduction
Section 115BAB of the Income Tax Act was introduced in the Union Budget of 2019 as a special tax regime for new manufacturing companies....
Understanding Section 50C of Income Tax Act: Applicability and Importance
Section 50C of the Income Tax Act, 1961, is a crucial provision that deals with the computation of capital gains in the case of...
Understanding Section 43(1) of the Income Tax Act: Key Aspects Explained
Section 43(1) of the Income Tax Act is an essential provision that deals with the treatment of certain expenses and incomes for the purpose...
Understanding Section 163 of Income Tax Act: An Overview
Section 163 of the Income Tax Act, 1961 is an important provision that empowers the Central Board of Direct Taxes (CBDT) to establish an...
Section 44AD of Income Tax Act 1961 – A Simplified Guide for AY 2016-17
The Income Tax Act, 1961 is the governing law for taxation in India. Section 44AD of the Act is a special provision that applies...
Section 70 of Income Tax Act: Set-Off and Carry Forward of Losses
Section 70 of the Income Tax Act deals with the concept of set-off and carry forward of losses. This provision is crucial for taxpayers...
Section 35AC of Income Tax Act 1961: A Comprehensive Guide
The government of India has been taking measures to encourage and promote social welfare activities in the country. One of the initiatives taken by...
Section 237 of Income Tax Act: Understanding Refunds for Excess Tax Paid
Section 237 of the Income Tax Act is an important provision that provides relief to taxpayers who have paid excess tax. In this blog,...