Understanding Section 156 of the Income Tax Act: The Notice of Demand for Taxpayers

Understanding Section 156 of the Income Tax Act: The Notice of Demand for Taxpayers

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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

Understanding Section 194IA of the Income Tax Act: TDS on Immovable Property

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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

Understanding Section 139AA of the Income Tax Act: Aadhaar-PAN Linking

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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...
Section 54EC of the Income Tax Act 2017

Understanding Section 54EC of the Income Tax Act 2017: Benefits and Limitations

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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

Section 194IA of Income Tax Act: All You Need to Know

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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

Understanding Section 194LBB of the Income Tax Act

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Section 194LBB of the Income Tax Act is a provision that deals with the taxation of income earned by certain specified investment funds. In...
Section 114B of Income Tax Act

Understanding Section 114B of Income Tax Act: Everything You Need to Know

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The Indian Income Tax Act is a complex document that lays down the rules and regulations governing the taxation of income earned by individuals...
Section 271D of the Income Tax Act

Understanding Section 271D of the Income Tax Act: Penalties for Cash Transactions

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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

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...
Understanding Section 70 of the Income Tax Act: How it Affects Your Tax Liability

Understanding Section 70 of the Income Tax Act: How it Affects Your Tax Liability

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Section 70 of the Income Tax Act is an important provision that determines how income from different sources is to be treated for the...