Income Tax

Section 194 of Income Tax Act 1961: All You Need to Know

Section 194 of Income Tax Act 1961: All You Need to Know

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Understanding Section 194 of Income Tax Act, 1961 Taxation is an essential aspect of every country's economy. It is the means of generating revenue for...
Section 44ADA of Income Tax Act: A Comprehensive Guide for AY 2018-19

Section 44ADA of Income Tax Act: A Comprehensive Guide for AY 2018-19

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Section 44ADA of the Income Tax Act was introduced by the Finance Act, 2016, and came into effect from April 1, 2017. This section...
Understanding Section 153B of the Income Tax Act: Time Limits for Assessments, Re-assessments, and Re-computations

Understanding Section 153B of the Income Tax Act: Time Limits for Assessments, Re-assessments, and...

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Section 153B of the Income Tax Act is an important provision that deals with the time limit for the completion of assessments, re-assessments, and...
Understanding Section 163 of Income Tax Act: An Overview

Understanding Section 163 of Income Tax Act: An Overview

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Section 163 of the Income Tax Act, 1961 is an important provision that empowers the Central Board of Direct Taxes (CBDT) to establish an...
Understanding Section 139 of the Income Tax Act: All You Need to Know about Filing Income Tax Returns

Understanding Section 139 of the Income Tax Act: All You Need to Know about...

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The Income Tax Act, 1961 is the governing law for income tax in India. Section 139 of the Income Tax Act deals with the...
Section 55A of the Income Tax Act: An Overview

Section 55A of the Income Tax Act: An Overview

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Introduction: The Indian Income Tax Act of 1961 is a comprehensive statute that governs the taxation of income in India. It lays down the rules...
The Role of Indirect Taxes in Revenue Generation and Economic Regulation

The Role of Indirect Taxes in Revenue Generation and Economic Regulation

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What is Indirect Tax? Indirect Tax refers to a tax levied on goods and services, as opposed to direct taxes that are imposed on income...
Section 80IA of the Income Tax Act

Understanding Section 80IA of the Income Tax Act: Eligibility, Benefits, and Sectors Covered

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Section 80IA of the Income Tax Act: An Overview Section 80IA of the Income Tax Act, 1961 is a provision that provides tax benefits to...
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 206AB of the Income Tax Act 1961

Understanding Section 206AB of the Income Tax Act 1961

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Section 206AB of the Income Tax Act, 1961 was introduced in the Union Budget 2021 to ensure that non-compliant taxpayers do not have access...