All about know section 94(7) of income tax act
Section 94(7) of the Income Tax Act is a provision that aims to prevent tax evasion and tax avoidance through certain transactions related to...
Understanding Section 9A of the Income Tax Act: Taxation of Income from Transfer of...
Section 9A of the Income Tax Act, 1961 was introduced through the Finance Act, 2021 and has been effective from 1st April 2021. This...
Understanding Section 148A of the Income Tax Act: Re-opening of Assessments for Undisclosed Income...
Section 148A of the Income Tax Act is a relatively new provision introduced in 2021 that aims to strengthen the tax administration system in...
Understanding the Benefits and Conditions of Section 54F of Income Tax Act 1961
Section 54F of the Income Tax Act, 1961 provides relief to individuals or Hindu Undivided Families (HUFs) who have sold a residential property...
What You Need to Know About Section 148A of the Income Tax Act: Re-Opening...
Section 148A of the Income Tax Act, 1961, is a provision that deals with the issuance of notice for reopening of assessment. The section...
Notice of Demand for Defective Return under Section 143(1)(b) of Income Tax Act, 1961
Section 143(1)(b) of the Income Tax Act, 1961 is an important provision that empowers the Income Tax Department to process income tax returns filed...
Understanding Section 194J of the Income Tax Act, 1961 – TDS on Professional or...
Section 194J of the Income Tax Act, 1961, deals with the deduction of tax at source (TDS) on fees for professional or technical services....
Section 80QQB: Tax Benefits for Authors on Royalty Income from Books
Section 80QQB of the Income Tax Act, 1961, is a tax-saving provision that offers deductions on royalty income earned by authors of certain literary,...
Understanding Section 80D of the Income Tax Act: Tax Benefits for Health Insurance and...
Section 80D of the Income Tax Act, 1961, is a crucial provision that allows taxpayers to claim deductions on health insurance premiums paid and...
Section 16(1a) of Income Tax Act: Deduction of Expenses Incurred in the Performance of...
Section 16(1a) of the Income Tax Act is a crucial provision that governs the taxability of an individual's salary income. It specifies the conditions...