Understanding Section 156 of the Income Tax Act: The Notice of Demand for Taxpayers
The Income Tax Act is a comprehensive statute that governs the taxation of income in India. Section 156 of the Income Tax Act, 1961...
Understanding Section 194IA of the Income Tax Act: TDS on Immovable Property
When you buy a property in India, you may be required to deduct tax at source (TDS) before making the payment to the seller....
Understanding Section 139AA of the Income Tax Act: Aadhaar-PAN Linking
The Indian government has been pushing for the Aadhaar-PAN linking since 2017. In a move towards a digitized and unified tax system, the Finance...
Understanding Section 54EC of the Income Tax Act 2017: Benefits and Limitations
The Indian government provides various incentives to promote investment in certain sectors and to encourage individuals to save and invest their money. One such...
Section 194IA of Income Tax Act: All You Need to Know
Buying a property is an exciting and significant decision in anyone's life. However, it also comes with several financial obligations, including taxes. As a...
Understanding Section 194LBB of the Income Tax Act
Section 194LBB of the Income Tax Act is a provision that deals with the taxation of income earned by certain specified investment funds. In...
Understanding Section 114B of Income Tax Act: Everything You Need to Know
The Indian Income Tax Act is a complex document that lays down the rules and regulations governing the taxation of income earned by individuals...
Understanding Section 271D of the Income Tax Act: Penalties for Cash Transactions
Section 271D of the Income Tax Act is a provision that imposes penalties for cash transactions that exceed certain thresholds. This section aims to...
Understanding Section 147 of the Income Tax Act 1961: An Overview
Section 147 of the Income Tax Act 1961 is an important provision that empowers the income tax department to reopen the assessment of a...
Understanding Section 70 of the Income Tax Act: How it Affects Your Tax Liability
Section 70 of the Income Tax Act is an important provision that determines how income from different sources is to be treated for the...