The income tax act defines Income tax and laws related to income tax. It covers income tax levy, collection, administration, and recovery. Income tax acts and income tax laws get changed/updated from time to time. Read our Latest News and Updated on the Income-tax act and Articles on the income tax act to understand the income tax act and its sections. Read our articles to understand income tax act section 10, income tax act section 24, income tax act section 54, income tax act section 80c, income tax act 44ad, income tax bare act, etc.
Income Tax : Overview of income tax rules for compulsory land acquisition: capital gains are taxed upon initial compensation receipt (Sec 45(5)...
Income Tax : Overview of tax treatment for a salaried employee, covering fully and partially taxable allowances (HRA, transport), standard dedu...
Income Tax : Understand the tax rules for capital gains on compulsory land acquisition (Section 45(5)), including the taxation of initial and e...
Income Tax : Section 194T, effective April 2025, mandates a 10% TDS on firms' payments (salary, interest, etc.) to partners exceeding ₹20,000...
Income Tax : Know about TAN under Section 203A of the Income Tax Act—its purpose, applicability, application process, forms, penalties, and k...
Income Tax : Govt. confirms no changes to the process of tax exemptions for STs in Meghalaya, clarifying no certificates are needed to claim ex...
Income Tax : Explore Income Tax Day 2024s history, significance, and key updates from Budget 2024-25, including enhanced deductions and revised...
CA, CS, CMA : KSCAA addresses glitches in the Income Tax portal, highlighting challenges faced by taxpayers and professionals, in a representati...
Goods and Services Tax : CBI arrests a CGST Superintendent for accepting a bribe of Rs. 10,000, while designated courts in Ahmedabad and Madurai sentence f...
Income Tax : Live webinar – Taxation Critical Issues & Solution Did you know our Indian Tax System is extremely vulnerable? Let me te...
Income Tax : The Bombay High Court stayed orders treating PCMC as an assessee in default for not deducting TDS on issuance of TDRs, holding tha...
Income Tax : Limitation under Rule 68B of the second schedule to the Income Tax Act did not apply to RDDB Act (Recovery of Debts Due to Banks a...
Income Tax : The ITAT Chandigarh ruled in Arun Dhir vs DCIT that a lump sum in lieu of pension is exempt under Section 10(10A), rejecting the n...
Income Tax : The Tribunal confirmed a co-operative banks use of a mixed accounting system (mercantile/receipt basis) for NPA interest, prioriti...
Income Tax : Kerala High Court held that appeals on identical issue can be disposed by passing single order containing single DIN. Thus, passin...
Income Tax : The official copy of the Income Tax Act, 2025, is now available. Download the full text to review new tax rates, compliance rules,...
Income Tax : Summary of the Taxation Laws (Amendment) Act, 2025, covering new tax exemptions for pension funds and foreign investors, and chang...
Income Tax : Learn about the latest changes in Income Tax Rules, 2025. Key amendments include updates to ITR forms and provisions for capital g...
Income Tax : Notification 102/2024 designates Auroville Foundation as an approved institution for social science research under the Income Tax ...
Income Tax : UIDAI's specified income receives tax exemption for AY 2024-2025 to 2028-2029 under Income-tax Act, 1961, as per the latest CBDT n...
The Bombay High Court stayed orders treating PCMC as an assessee in default for not deducting TDS on issuance of TDRs, holding that Section 194LA applies only to monetary compensation.
Overview of income tax rules for compulsory land acquisition: capital gains are taxed upon initial compensation receipt (Sec 45(5)), with enhanced compensation taxed separately. Covers TDS rules (Sec 194LA) at 10%, thresholds, and penalties for non-compliance.
Overview of tax treatment for a salaried employee, covering fully and partially taxable allowances (HRA, transport), standard deductions (Section 16), and key investment-linked deductions under Chapter VI-A (80C, 80D, 80CCD).
Understand the tax rules for capital gains on compulsory land acquisition (Section 45(5)), including the taxation of initial and enhanced compensation, cost basis, and exemptions. Details on TDS under Section 194LA, including rates (10%), thresholds (₹5L), and compliance.
Section 194T, effective April 2025, mandates a 10% TDS on firms’ payments (salary, interest, etc.) to partners exceeding ₹20,000 annually. New rules create compliance and non-resident ambiguity.
Know about TAN under Section 203A of the Income Tax Act—its purpose, applicability, application process, forms, penalties, and key rules for TDS/TCS deductors and collectors in India.
Learn about key income tax benefits, exemptions, and filing relaxations available to senior and very senior citizens under the Income Tax Law for FY 2025-26.
Know the key provisions of Sections 194Q and 206C(1H) on TDS and TCS for sale or purchase of goods, including thresholds, rates, exemptions, and compliance rules under the Income-tax Act.
Know the differences between Sections 80TTA and 80TTB of the Income-tax Act. Learn eligibility, deduction limits of Rs.10,000 and Rs.50,000, applicable income sources, and rules under the new tax regime Section 115BAC.
Limitation under Rule 68B of the second schedule to the Income Tax Act did not apply to RDDB Act (Recovery of Debts Due to Banks and Financial Institutions Act, 1993) proceedings as Rule 68B of the IT Act had no mandatory application to recoveries under the RDDB Act
