Understanding Section 115JC of Income Tax Act: Applicability and Impact on Entities
Section 115JC of the Income Tax Act was introduced in the Finance Act, 2016. This section deals with the levy of additional income tax,...
Understanding Section 120 of the Income Tax Act – The Provision for Correction of...
The Indian Income Tax Act, 1961 is a comprehensive legislation that governs the taxation of income in India. The Act contains various provisions that...
Understanding Section 292BB of the Income Tax Act
Introduction
Section 292BB of the Income Tax Act was introduced by the Finance Act, 2015, with the aim of providing relief to taxpayers who had...
Understanding Section 80C of Income Tax Act for AY 2016-17: All You Need to...
Income tax is an essential aspect of a citizen's financial life. The government of India has set up several provisions to assist taxpayers in...
Section 55A of the Income Tax Act: An Overview
Introduction:
The Indian Income Tax Act of 1961 is a comprehensive statute that governs the taxation of income in India. It lays down the rules...
Understanding Section 194DA of the Income Tax Act, 1961: TDS on Life Insurance Policy...
Section 194DA of the Income Tax Act, 1961 is a provision that deals with the taxation of proceeds received from life insurance policies. It...
Declaration under Section 194Q of Income Tax Act: Everything You Need to Know
In recent times, the Indian government has implemented various provisions in the Income Tax Act to ensure the proper collection of taxes. One such...
Section 10(34a) of Income Tax Act: Understanding the Tax Exemption on Mutual Fund Units
Section 10(34a) of the Income Tax Act is an important provision that affects taxpayers who receive income from specified mutual fund units. In this...
Understanding Section 92C of the Income Tax Act: Arm’s Length Pricing for Cross-Border Transactions...
Section 92C of the Income Tax Act, 1961 is a crucial provision that deals with the transfer pricing regulations in India. It is aimed...
Section 10(23a) of Income Tax Act: An Overview of Exemption for Public Interest Activities
Section 10(23a) of the Income Tax Act is a provision that exempts certain incomes received by specific entities from income tax. This section is...