#income tax act
Log in to FollowThe 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.

Notice and order passed against non-extant entity is untenable

Employees’s share in relevant funds should be deposited before due date for claiming deduction u/s 36(1)(va)

Amount transferred to reverse fund is to be included for computation of income of NBFC

Penalty u/s 271B not leviable on local authority as it cannot be considered to be engaged in business

Income not taxable in India merely because overseas employer paid salary into NRE account in India

Exemption u/s 54B is available to HUF with effect from 1st April 2013

Few terms explained in layman’s language as per Income Tax Act in India

Benefit of deduction u/s 80IA available towards interest income earned on fixed deposit

Addition sustained on failure to produce evidence to support astronomical agricultural income

TUFS Scheme interest being capital receipt should be excluded while working out book profits u/s 115JB

Penalty u/s 271AAA leviable on failure to substantiate source & manner of undisclosed income

Deduction u/s 80IA eligible to effluent water treatment plant

Deduction u/s 80P(2)(a)(i)/ 80P(2)(d) not available on common interest earned from investment in co-operative banks

