Understanding Section 9 of the Income Tax Act: Tax Implications for Non-Residents Earning Income...
Section 9 of the Income Tax Act is a crucial provision that defines the scope of taxation of income earned by non-residents in India....
Understanding Section 80EEA of the Income Tax Act: Tax Benefits for First-Time Homebuyers
Section 80EEA of the Income Tax Act, 1961 was introduced by the government in the Union Budget 2019-20 to provide additional tax benefits to...
Understanding Section 10(14)(i) of the Income Tax Act: Exemption of Allowances and Perquisites
Section 10(14)(i) of the Income Tax Act, 1961 is an important provision that deals with the exemption of certain allowances and perquisites from the...
Section 37 of Income Tax Act: A Guide to Deductions for Business and Professional...
Section 37 of the Income Tax Act, 1961 is an important provision that deals with the deduction of expenses incurred for the purpose of...
Understanding Section 195 of the Income Tax Act: A Guide to TDS on Payments...
Section 195 of the Income Tax Act, 1961 deals with the deduction of tax at source on payment made to non-residents. This section applies...
Understanding Section 206AB of the Income Tax Act: Higher TDS Rates for Non-Compliant Taxpayers
Section 206AB of the Income Tax Act was introduced by the Finance Act, 2021, and it deals with the deduction of tax at source...
Understanding Section 50C of the Income Tax Act: Key Points and Implications
Section 50C of the Income Tax Act, 1961, deals with the computation of capital gains or losses on the transfer of a capital asset...
All You Need to Know About Section 194IA of the Income Tax Act
Section 194IA of the Income Tax Act, 1961 deals with the tax deducted at source (TDS) on the transfer of immovable property (other than...
Understanding Section 80TTB: A Guide to Tax Benefits for Senior Citizens on Interest Income
Introduction
Section 80TTB of the Income Tax Act is a provision that allows senior citizens to claim a deduction on the interest earned from their...
Understanding Section 56(2)(x) of the Income Tax Act: Taxation of Gifts Received Without Consideration...
Section 56(2)(x) of the Income Tax Act, 1961 is a provision that deals with the taxability of certain receipts under the head of ‘Income...