Understanding Section 69B of Income Tax Act: Implications and Consequences
The Income Tax Act of India has various provisions aimed at regulating and ensuring that taxpayers pay their fair share of taxes. One such...
Section 35(1)(i) of the Income Tax Act: Understanding the Provisions
As a taxpayer, it's important to understand the various provisions of the Income Tax Act that govern the computation and assessment of your tax...
Understanding Section 40(a)(ii) of Income Tax Act: A Comprehensive Guide
Section 40(a)(ii) of the Income Tax Act is an important provision that deals with the disallowance of expenses incurred by a business that are...
Understanding Section 46A of the Income Tax Act: Everything You Need to Know
The Income Tax Act, 1961 is a comprehensive law that governs the taxation of income in India. It lays down the rules and regulations...
Understanding Section 10(24) of the Income Tax Act: Tax Exemption for Income of Minor...
Section 10(24) of the Income Tax Act provides for an exemption of income earned by minor children from certain sources. This section is especially...
Understanding Section 36(1)(viii) of the Income Tax Act: Definition, Eligibility, and Implications
Section 36(1)(viii) of the Income Tax Act, 1961, is a provision that allows businesses to claim a deduction for the amount of interest paid...
Understanding Section 56(2)(x) of Income Tax Act 1961: Taxation of Gifts Received
The Income Tax Act, 1961, governs the taxation of income earned by individuals and entities in India. One of the provisions of the Act...
Understanding Section 57 of the Income Tax Act: An Overview
Section 57 of the Income Tax Act is a crucial provision that determines the deductions that can be claimed by taxpayers against the income...
Understanding Section 90 of Income Tax Act – Key Provisions and Benefits
Taxation is an integral part of any economy, and India is no exception. The Income Tax Act, 1961, is the primary legislation that governs...
Section 35E of Income Tax Act: An Overview
Introduction
Section 35E of the Income Tax Act pertains to the provision of a deduction for expenditure incurred on certain specified businesses. The section deals...