Form 10E is a form that must be filed by taxpayers to claim relief under section 89(1) of the Income Tax Act. Form 10E helps in calculating tax outflow on any arrears of income received from changes in taxation rules applicable in both the years, year of receipt, and the year to which such income pertains. […]
The Indian Income-tax Act, 1961 (hereinafter referred to as the “Act”) provides for deduction in respect of certain expenses incurred by an individual or a Hindu undivided family. Section 24 deals with income tax deduction from house property. The section specifies that any person who is a resident and owns a residential accommodation shall be entitled […]
Black money is a major threat to the Indian economy. Section 269St was inserted in Income Tax Act,1961 to curb the problems caused by black money.
Black money has been a major threat to our economy. Many taxpayers use only cash transactions in order to evade their tax liabilities and their responsibility towards the country. Cash transactions […]
In sequence to acceptably fund its numerous activities, consequences, and responsibilities, the government of a country imposes income tax on its citizens. The taxation structure for this Income Tax Rebate under Section 87A diverges from country to country.
In India, this structure is developing, which signifies that your income tax liability […]
