Understanding Section 43(5) of the Income Tax Act: The Importance of Actual Cost in...
Section 43(5) of the Income Tax Act is a crucial provision that governs the tax treatment of expenses related to the acquisition of a...
Understanding Section 44A of the Income Tax Act: Accounting Method for Businesses Dealing in...
Section 44A of the Income Tax Act, 1961, deals with the method of accounting for computing profits and gains from businesses that involve stock...
Understanding Section 159 of the Income Tax Act: Responsibilities and Liabilities of Legal Representatives...
Section 159 of the Income Tax Act is a crucial provision that deals with the liability of legal representatives. This provision applies when a...
Understanding Section 40A(9) of the Income Tax Act: Limitations on Cash-based Business Transactions
Section 40A(9) of the Income Tax Act is an important provision that deals with payments made in cash by business entities. The section was...
Understanding Section 208 of the Income Tax Act – Advance Tax Payment Requirements
Section 208 of the Income Tax Act is an important provision that deals with the payment of advance tax. It is applicable to all...
Understanding Section 115UB of the Income Tax Act: Tax Implications on Investment in Alternative...
Section 115UB of the Income Tax Act, 1961, deals with the taxation of income from investment in a specified investment fund. This section was...
Understanding Section 68 of the Income Tax Act: Implications and Compliance for Taxpayers
Section 68 of the Income Tax Act is an important provision that deals with the treatment of unexplained cash credits in the hands of...
Understanding Section 87A of the Income Tax Act: Eligibility, Rebate Amount, and Benefits
The Section 87A of the Income Tax Act, 1961 provides tax relief to individuals who fall within a specific income range. This section was...
Understanding Section 44ADA of the Income Tax Act: A Guide for Eligible Professionals for...
As a self-employed professional, it is essential to know the income tax provisions applicable to you. One such provision is Section 44ADA of the...
Understanding Section 54EC of the Income Tax Act, 1961: Exemption on Long-Term Capital Gains
Section 54EC of the Income Tax Act, 1961 is a provision that provides tax relief to taxpayers who have made long-term capital gains from...