Section 143(1) of the Income Tax Act: Understanding the Processing of Income Tax Returns
Income Tax Act Section 143(1): Understanding the Basics
The Income Tax Act is a complex set of regulations that govern how income taxes are calculated...
Section 115BAA and 115BAB of Income Tax Act: Understanding Tax Benefits for New Manufacturing...
The Indian government has introduced various measures to promote investments in the country. One such measure is the introduction of Section 115BAA and Section...
Understanding Notice under Section 139(9) of Income Tax Act 1961 and Error Code 38
The Income Tax Act 1961, which governs the taxation of income in India, requires taxpayers to file their tax returns every year. The process...
Section 206AB and 206CCA of the Income Tax Act: Understanding the Higher Rates of...
Introduction
Section 206AB and 206CCA of the Income Tax Act, 1961, were introduced by the Finance Act 2021. These provisions were brought into effect from...
Understanding Section 140B of Income Tax Act: A Comprehensive Guide
Section 140B of the Income Tax Act, 1961 was introduced in the year 2017 as part of the Finance Act. This section aims to...
Understanding Section 80C of the Income Tax Act, 1961: Benefits and Limitations
The Income Tax Act, 1961, is an essential law that governs the taxation system in India. As per this act, every individual or entity...
Understanding Section 167B of the Income Tax Act: An Overview
The Income Tax Act is a complex piece of legislation that contains various sections and provisions, each with its own implications for taxpayers. One...
Understanding Section 10(34) of Income Tax Act, 1961: Exemption on Income Received from Buyback...
Section 10(34) of the Income Tax Act, 1961, provides an exemption from tax for income received by a shareholder from a company on account...
Understanding Section 80CCC of the Income Tax Act: A Comprehensive Guide
Saving for your future is always a wise decision, and the Indian government encourages this behavior by offering various tax-saving options to its citizens....
Understanding Section 6(1) of the Income Tax Act
The Income Tax Act is a crucial piece of legislation that governs how income tax is levied in India. One of the key sections...