Understanding Section 10(7) of the Income Tax Act: Exemption for Allowances Granted to Government...
Section 10(7) of the Income Tax Act provides an exemption to government employees for certain allowances granted to them as part of their employment....
Understanding Section 112 of the Income Tax Act: A Comprehensive Guide
The Income Tax Act is a complex and vast set of laws that govern the taxation of income earned by individuals and businesses in...
Understanding Section 193 of the Income Tax Act: TDS on Interest on Securities
Introduction
The Income Tax Act, 1961, is the primary legislation in India that governs the taxation of income. The Act is divided into various sections,...
Section 234E of Income Tax Act 1961: All You Need to Know About Penalties...
Section 234E of the Income Tax Act, 1961, is a provision that was introduced in 2015 to penalize taxpayers who fail to file their...
Understanding Section 10(26AAA) of the Income Tax Act: Tax Exemptions for Scheduled Tribes Residing...
Section 10(26AAA) of the Income Tax Act is a provision that provides tax exemption to members of Scheduled Tribes residing in specified areas. This...
Understanding Section 89 of Income Tax Act: Relief for Arrears and Advance Salary
Understanding Section 89 of Income Tax Act
Section 89 of the Income Tax Act, 1961 is a provision that helps taxpayers to avoid paying excessive...
Understanding the Time Limit under Section 154 of the Income Tax Act
Taxpayers in India are required to file their income tax returns accurately and within the prescribed time limit. However, errors in tax returns may...
Understanding Section 44AD of Income Tax Act 1961 for AY 2017-18
The Income Tax Act, 1961 is a comprehensive tax law in India that lays down the rules and regulations for the taxation of individuals,...
Understanding the Income Tax Act: Important Sections
Introduction
The Income Tax Act is the primary legislation governing the imposition and collection of income tax in India. The Act has various sections that...
Understanding Section 17(2) of the Income Tax Act: All You Need to Know
The Indian Income Tax Act, 1961, contains several provisions that govern the taxation of income in India. One such provision is Section 17(2), which...