Income Tax

Section 10(17A) of the Income Tax Act

Understanding Section 10(17A) of the Income Tax Act: Exemption of Special Allowance for MPs

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Section 10(17A) of the Income Tax Act, 1961 is a provision that provides tax exemption for a specific type of allowance granted to Members...
Section 195 of Income Tax Act: A Comprehensive Guide

Section 195 of Income Tax Act: A Comprehensive Guide

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Section 195 of the Income Tax Act pertains to the withholding tax obligation of a person responsible for paying any sum to a non-resident....
Section 87A of Income Tax Act: Eligibility, Rebate Amount and Calculation

Section 87A of Income Tax Act: Eligibility, Rebate Amount and Calculation

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Individual taxpayers who have a total income below a specified threshold are eligible for tax relief through Section 87A of the Income Tax Act,...
Understanding Section 206CQ of the Income Tax Act: What You Need to Know

Understanding Section 206CQ of the Income Tax Act: What You Need to Know

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Understanding Section 206CQ of Income Tax Act The Indian Income Tax Act, 1961, contains several provisions that regulate tax deductions and collections. Section 206CQ is...
Understanding Section 139(1) of Income Tax Act 1961: Filing Your Tax Returns

Understanding Section 139(1) of Income Tax Act 1961: Filing Your Tax Returns

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The Income Tax Act, of 1961 is the primary legislation that governs the income tax system in India. Section 139(1) of the Act mandates...
Section 206CCA of the Income Tax Act

Section 206CCA of the Income Tax Act: A Comprehensive Guide to Higher TDS and...

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Understanding Section 206CCA of the Income Tax Act Section 206CCA is a newly introduced provision under the Income Tax Act, 1961. This section requires taxpayers...
Understanding Cash Reserve Ratio (CRR) A Guide to its Purpose, Impact

A Guide to Understand Cash Reserve Ratio (CRR) its Purpose & Impact

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Cash Reserve Ratio (CRR) is a monetary policy tool that central banks use to control the money supply and regulate inflation in an economy....
Section 194O of Income Tax Act

Understanding Section 194O of the Income Tax Act

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Section 194O of the Income Tax Act was introduced in Budget 2020 with the intention of bringing e-commerce operators under the purview of TDS...
Section 24 of the Income Tax Act AY 2015-16

Understanding Section 24 of the Income Tax Act AY 2015-16: Deduction of Interest on...

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The Indian government introduced the Income Tax Act in 1961, which lays down the regulations for paying income tax in India. The Act has...