Exemption under Section 10 (1) on agricultural income If you earn any type of agricultural income in a financial year, such an income would be exempted from tax. Agricultural income, as defined under Section 2 (1A) of the Income Tax Act, 1961, would include the following types of incomes...
March 1, 2021Arpit KulshresthaIncome Tax News and Articles, Taxes in India 3 Minutes Read Under section 50C of the Income Tax Act the Income Tax Appellate Tribunal (ITAT) Bangalore, has eliminated the addition performed by the revenue department. The taxpayer Ayi Vaman Narasimha Acharya has ...
Applicability of provisions under Section 194J of Income TaxrahulEmail thisPrint this
Income-taxAct,1961:Notificationunderundersection2(1A)(c),poviso,clause(ii)(B)and section2(14)(iii)(b);Urbanisationofareas WhereasadraftnotificationwaspublishedbytheCentralGovernmentinexerciseofthepowersconferred byitem(B)ofclause(ii)oftheprovisotosub-clause(c)ofclause(1A),anditem(b)ofsub-clause(...
1. Definition of “salary”, “perquisite” and “profit in lieu of salary” (section 17) 1.1 What is salary? 1.2 What is a Perquisite? 1.3 What is profit in lieu of salary ? 2. Rates of income-tax as per Finance Act, 2022
IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES B HYDERABAD THROUGH VIDEO CONFERENCE BEFORE SHRI A MOHAN ALANKAMONY ACCOUNTANT MEMBER AND SHRI S S GODARA
So Who is Eligible for This Rebate Under Section 87A? There has always been chaos, confusion, and heated debate on this issue. So, the parameters for the eligibility of this rebate under section 87A of the Income Tax Act 1961 are mentioned below in steps? Step 1: To begin with, the ...
Section 64(1)(iv) As per this section, if your spouse is transferring directly or indirectly any asset to the spouse by the assessee for inadequate consideration then, income will be clubbed in the hands of the transferor. Point to be noted is the asset shall be other than house property...
Under Section 80D of the Income Tax Act, taxpayers can avail tax deductions for investments made towards Health Insurance Policy. The deduction is also applicable for investments towards Central Government Health Plan, made on behalf of immediate family members. A taxpayer can claim a deduction of ...
The GSTN (Goods and Services Tax Network) will soon allow metal scrap dealers to register for TDS (Tax Deducted at Source) under section 51 of the GST Act. View more 11th October 2024 GSTN has been enabled in four new states Odisha, Kerala, Nagaland, and Telangana, for the verification...