Income Tax

Complete Guide to Verification of Income Tax Return (ITR) in India

E-Verifying Your Income Tax Return: A Step-by-Step Guide

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Income tax is an important aspect of financial management in India, and the filing of an ITR (Income Tax Return) is mandatory for individuals...
Understanding Conveyance Allowance: Benefits, Tax Exemption, and FAQs

Understanding Conveyance Allowance: Benefits, Tax Exemption, and FAQs

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Conveyance allowance is a benefit that employers offer to their employees to cover their transportation expenses while commuting to work. The allowance is usually...
Section 2(22) of Income Tax Act

Understanding Section 2(22) of Income Tax Act: Definition of Dividend and Tax Implications

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Section 2(22) of the Income Tax Act, 1961 defines the term "dividend" and is an important provision that has significant implications for taxpayers. Dividend...
80 TTA: Guide to Understand & Maximizing Tax-Free Allowance

80 TTA: Guide to Understand & Maximizing Tax-Free Allowance

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Overview of the 80TTA deduction 80tta stands for section 80TTA of the Income Tax Act, 1961. 80tta is a tax benefit provided to individuals...
Understanding Unabsorbed Depreciation in Income Tax: A Comprehensive Guide

Understanding Unabsorbed Depreciation in Income Tax: A Comprehensive Guide

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Introduction When it comes to calculating income tax, businesses need to consider various factors, including expenses, deductions, and depreciation. Depreciation is an essential concept that...
Understanding Section 80CC of the Income Tax Act: A Comprehensive Guide

Understanding Section 80CC of the Income Tax Act: A Comprehensive Guide

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Paying taxes is one of the essential responsibilities of every citizen. As per the Income Tax Act, individuals can claim various deductions to reduce...
Understanding Section 147 of the Income Tax Act 1961: An Overview

Understanding Section 147 of the Income Tax Act 1961: An Overview

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Section 147 of the Income Tax Act 1961 is an important provision that empowers the income tax department to reopen the assessment of a...
Section 115BAB of Income Tax Act - Marg ERP

Section 115BAB of Income Tax Act: Boosting Manufacturing in India with Lower Corporate Tax...

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Section 115BAB of the Income Tax Act, introduced in September 2019, offers a lower corporate tax rate for newly incorporated domestic companies engaged in...
54F of Income Tax Act for AY 2021-22

Section 54F of Income Tax Act for AY 2021-22: Understanding Exemption on Long-Term Capital...

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Section 54F of the Income Tax Act, 1961 provides an exemption on capital gains arising from the sale of a long-term asset, if the...
Understanding Section 37(1) of the Income Tax Act:

Understanding Section 37(1) of the Income Tax Act: Eligible Deductions for Businesses and Professions

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Introduction: The Indian Income Tax Act, 1961, is a comprehensive law that governs the taxation of income earned by individuals, businesses, and other entities in...