Income Tax

Understanding Section 24 of the Income Tax Act: Deductions for Home Loan Interest

Understanding Section 24 of the Income Tax Act: Deductions for Home Loan Interest

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When it comes to filing income tax returns, one of the most important factors to consider is deductions. As per the Income Tax Act...
Sections 11 and 12 of the Income Tax Act

Understanding Sections 11 and 12 of the Income Tax Act: Exemptions for Charitable and...

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Section 11 and 12 of the Income Tax Act deal with the computation of income from property held for charitable or religious purposes. These...
Understanding Section 112(1) of the Income Tax Act: Taxation of Long-term Capital Gains

Understanding Section 112(1) of the Income Tax Act: Taxation of Long-term Capital Gains

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Section 112(1) of the Income Tax Act: An Overview Section 112(1) of the Income Tax Act is an important provision that deals with the taxation...
Section 50C of the Income Tax Act

Understanding Section 50C of the Income Tax Act: Key Points and Implications

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Section 50C of the Income Tax Act, 1961, deals with the computation of capital gains or losses on the transfer of a capital asset...
Understanding Section 80CC of the Income Tax Act: A Comprehensive Guide

Understanding Section 80CC of the Income Tax Act: A Comprehensive Guide

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Paying taxes is one of the essential responsibilities of every citizen. As per the Income Tax Act, individuals can claim various deductions to reduce...
Understanding Section 49(1) of the Income Tax Act: An Overview

Understanding Section 49(1) of the Income Tax Act: An Overview

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Section 49(1) of the Income Tax Act is a provision that is important for taxpayers to understand. This section deals with the calculation of...
Understanding Form 16B: A Complete Guide to TDS Certificate for Property Buyers and Sellers

Understanding Form 16B: A Complete Guide to TDS Certificate for Property Buyers and Sellers

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Form 16B: A Comprehensive Guide for Taxpayers Form 16B is an important document issued by the buyer of immovable property to the seller, as per...
Understanding Accrued Income: What It Is and Why It Matters

Understanding Accrued Income: What It Is and Why It Matters

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Accrued income is a term that refers to income that has been earned but not yet received. It can also be called accrued revenue...
Understanding Section 9D of Income Tax Act: All You Need to Know

Understanding Section 9D of Income Tax Act: All You Need to Know

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The Indian Income Tax Act is a complex set of laws that govern the taxation of income in India. One of the important sections...
Understanding Section 44AA of the Income Tax Act

Understanding Section 44AA of the Income Tax Act

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The Income Tax Act, 1961, is a crucial legislation that governs taxation in India. Section 44AA of the Income Tax Act is one of...