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Section 197A of the Income Tax Act provides a significant relief to taxpayers whose total income falls below the taxable limit. This...

Section 194A of the Income Tax Act governs the deduction of Tax Deducted at Source ( TDS )  on interest income , excluding interest on...

When it comes to managing employee salaries, compliance with tax regulations is crucial for every employer. One of the key obligations is...

Imagine donating to a charity, excited about both helping a cause and claiming a tax deduction under Section 80G . But, when tax season...

Section 194IB of the Income Tax Act, 1961, was introduced to broaden the tax base and ensure compliance regarding tax deductions on...

Section 40(a) of the Income Tax Act is a crucial provision that can have a significant impact on a taxpayer's allowable deductions and...

Imagine you made INR 35,000 from fixed deposits this year, and your total income is low enough that you don’t have to pay taxes. Usually,...

As a first-time taxpayer, you may find the concept overwhelming, specifically when it comes to documentation and IDs. The Income Tax Act,...

Section 194Q was, hence, newly introduced in the Income Tax Act through the Finance Act of 2021 and is effective starting July 1, 2021,...

Tax Deducted at Source (TDS)   is a significant component of the Indian tax system. It mandates that a portion of tax be deducted at the...