Understanding Section 2(14) of the Income Tax Act: Definition of Capital Asset and its...
Section 2(14) of the Income Tax Act is a crucial provision that defines the term "capital asset" and lays down the rules for determining...
Understanding Section 115BBA of the Income Tax Act and Its Impact on the Indian...
Introduction
Section 115BBA of the Income Tax Act was introduced in the Union Budget of 2020 to provide tax relief to individuals who are professional...
Understanding Section 2(24) of the Income Tax Act: Definition of Income for Taxation Purposes
Understanding Section 2(24) of the Income Tax Act
The Income Tax Act, 1961 is a comprehensive tax law in India that governs the taxation of...
Understanding Section 288 of the Income Tax Act – Authorized Representatives in Tax Matters
Section 288 of the Income Tax Act: An Overview
The Income Tax Act of India is a comprehensive piece of legislation that governs the taxation...
Section 72 of Income Tax Act: Everything You Need to Know About Carry Forward...
Introduction
Section 72 of the Income Tax Act, 1961 deals with the carry forward and set off of losses in certain cases. This provision allows...
Understanding Section 80M of the Income Tax Act
Section 80M of the Income Tax Act, 1961 provides for the deduction of inter-corporate dividends received by a domestic company from its subsidiary. The...
Section 115BAC of Income Tax Act 1961: A Comprehensive Guide to Lower Tax Rates...
Introduction:
Section 115BAC was introduced by the Finance Act 2020 and came into effect from the Assessment Year 2021-22. It is an optional scheme for...
Understanding Section 2(47) of the Income Tax Act: Definition of “Transfer” and Implications for...
Understanding Section 2(47) of Income Tax Act
The Indian Income Tax Act, 1961 is a comprehensive piece of legislation that governs the taxation of income...
Section 206CL of Income Tax Act: An Overview of TCS on Sale of Goods
Section 206CL of the Income Tax Act deals with the concept of Tax Collection at Source (TCS) on sale of goods. TCS is the...
Understanding Section 192A of the Income Tax Act: TDS on Premature Withdrawal from EPF...
Introduction
Section 192A of the Income Tax Act, 1961 is a provision that requires employers to deduct tax at source (TDS) on premature withdrawal from...