Income Tax

Section 10(32) of Income Tax Act: Understanding the Exemption for Income Earned by Minor Children

Section 10(32) of Income Tax Act: Understanding the Exemption for Income Earned by Minor...

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Section 10(32) of the Income Tax Act, 1961 is an important provision that deals with the taxability of income received by a minor child....
Section 94B of the Income Tax Act: Understanding the Provision and its Implications

Section 94B of the Income Tax Act: Understanding the Provision and its Implications

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Section 94B of the Income Tax Act, introduced in the Finance Act, 2017, aims to curb the practice of creating multiple layers of shell...
Understanding Section 9 of the Income Tax Act: Implications for Residents and Non-Residents

Understanding Section 9 of the Income Tax Act: Implications for Residents and Non-Residents

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Understanding Section 9 of the Income Tax Act Section 9 of the Income Tax Act is an essential part of Indian taxation law. It pertains...
Section 10E of the Income Tax Act: Tax Exemption on Compensation Received for Surrendering Land Rights

Section 10E of the Income Tax Act: Tax Exemption on Compensation Received for Surrendering...

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Introduction: Section 10E of the Income Tax Act, 1961 is a provision that offers tax benefits to individuals who have received compensation or enhanced compensation...
Understanding Section 145 of the Income Tax Act, 1961: Importance, Impact, and Compliance

Understanding Section 145 of the Income Tax Act, 1961: Importance, Impact, and Compliance

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Introduction The Income Tax Act of India, 1961, is the law that governs the taxation of income earned in India. Section 145 of the Income...
Understanding Section 56(2)(viib) of the Income Tax Act

Understanding Section 56(2)(viib) of the Income Tax Act

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Introduction: Section 56(2)(viib) of the Income Tax Act was introduced in the year 2017 as part of the amendments made to the Act. It deals...
Section 36(1)(va) of Income Tax Act: Understanding the Tax Benefits for Employers

Section 36(1)(va) of Income Tax Act: Understanding the Tax Benefits for Employers

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Section 36(1)(va) of Income Tax Act: Understanding the Tax Benefits for Employers Section 36(1)(va) of the Income Tax Act provides a significant tax benefit to...
Understanding Section 23 of the Income Tax Act: Sources of Income and Deductions.

Understanding Section 23 of the Income Tax Act: Sources of Income and Deductions.

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Understanding Section 23 of Income Tax Act Section 23 of the Income Tax Act is a significant provision that determines how the taxable income of...
Section 220 of the Income Tax Act: All You Need to Know

Section 220 of the Income Tax Act: All You Need to Know

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Introduction Section 220 of the Income Tax Act is an important provision that deals with the power of the tax authorities to collect taxes. This...
Section 156 of Income Tax Act: All You Need to Know About Notice of Demand

Section 156 of Income Tax Act: All You Need to Know About Notice of...

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Section 156 of the Income Tax Act, 1961 deals with the issue of notice of demand for payment of tax. This section lays down...