Section 40A(3) is a provision of the Act dealing with the taxability of payments that can be considered as expenditure. Under this provision, any expenditure in the form of allowance or reimbursement, made by an employer to his employees, shall be treated as income in the hands of the employees when the amount of expenditure incurred is not less than the amount specified under sub-section (2) of section 40A, or when the actual expenditure incurred by the employer is not otherwise verifiable (by means of documents, vouchers, etc.).
Uncover the findings of Hindenburg Research’s 2-year investigation, alleging Adani Groups stock manipulation and accounting fraud of INR 17.8 trillion. Delve into the precarious financial situation, debt concerns, offshore entities, and potential delisting repercussions. Navigate the complex landscape of market integrity and corporate governance.
Section 35AC of the Income Tax Act, 1961, provides a deduction in respect of income derived, or any sum of money paid or deposited, out of the gross total income of an assessee who has entered into any eligible project or scheme approved by the Central Government under this Section.
Explore the Stand Up India initiative driving entrepreneurship, capital investment, and economic inclusion. Learn about registration, eligibility, schemes, tax benefits, and how it empowers SC, ST, and women entrepreneurs.
Explore the impact of Adani Groups sustainable practices on its financial performance. Learn about its comprehensive business model, early beginnings, and commitment to environmental and social responsibility. Gain insights into the influential journey of this global powerhouse.
Dive deep into the Adani Group with our comprehensive analysis. Uncover the controversies, investigations, and financial impact. Understand the challenges the group faces in rebuilding trust and maintaining credibility. Stay informed about the ongoing developments in this corporate saga.
Unlock tax savings with Section 80C! Dive into the details of eligible investments under the Income Tax Act 1961. Explore deductions up to Rs. 1,50,000 on life insurance premiums, annuity contracts, provident fund contributions, and more. Make informed decisions for tax-efficient financial planning.
Unlock the potential of Section 80CCC under the Income Tax Act for retirement benefits. Explore deductions up to Rs 1.5 lakhs, annuity plans, tax implications, and strategic financial planning. Plan your future with tax-savvy retirement solutions.
Explore the key details of Section 80PA Deduction, providing a 100% deduction for eligible businesses of Producer Companies. Understand the conditions, restrictions, and benefits for effective tax planning.
Explore Section 80U of the Income Tax Act for a comprehensive analysis of tax exemptions for individuals with disabilities. Understand the definition of disabilities certified by medical authorities, tax exemptions based on income and treatment expenses, exemption limits, and other benefits such as relief from tuition fees and allowances. Be aware of the time limit for filing tax returns under Section 80U and ensure compliance with the Income Tax Act. Empower individuals with disabilities to navigate tax benefits and enhance financial well-being.
