Understanding the Income Tax Act: A Comprehensive Guide to Its Sections and Provisions
The Income Tax Act is the law governing the taxation of income in India. It was introduced in 1961, and it has undergone several...
Understanding the Provisions of the Income Tax Act, 1961, Applicable to Companies
The Income Tax Act, 1961 is the principal legislation that governs the taxation of individuals and companies in India. It lays down the rules...
Understanding Section 80DDB of the Income Tax Act: Eligibility and Benefits
Section 80DDB of the Income Tax Act: A Comprehensive Guide
Section 80DDB of the Income Tax Act provides tax benefits to taxpayers who incur expenses...
Understanding Section 10A of Income Tax Act – Exemption for Newly Established Undertakings in...
The Indian government has been making consistent efforts to attract foreign investments and promote industrial development in the country. One of the significant steps...
Understanding Section 50C of the Income Tax Act 2021
When it comes to property transactions in India, there are various tax implications that individuals and businesses need to be aware of. One such...
Understanding Section 112A of Income Tax Act: Implications for Capital Gains Tax
The Indian Income Tax Act, 1961 is a comprehensive piece of legislation that governs the taxation of income in India. One of the key...
Understanding Section 139A(5)(c) of the Income Tax Act
Section 139A(5)(c) of the Income Tax Act is an essential provision that mandates every person who is required to apply for a Permanent Account...
Understanding the Supreme Court’s Interpretation of Section 148 of the Income Tax Act
Section 148 of the Income Tax Act empowers the Income Tax Department to issue notices for reassessment to taxpayers if it has reason to...
Understanding Section 10(7) of the Income Tax Act: Exemption for Allowances Granted to Government...
Section 10(7) of the Income Tax Act provides an exemption to government employees for certain allowances granted to them as part of their employment....
Understanding Section 194H of Income Tax Act 2017-18: An Overview
Section 194H of the Income Tax Act, 1961 is an important provision that deals with the deduction of tax at source on commission or...