Section 64 Income Tax: Clubbing of Income Rules
Section 64 Income Tax rules prevent tax evasion through “clubbing of income.” Specifically, Section 64 prevents individuals from reducing their tax […]
Tax
Understand taxes with clear, practical guidance. This section covers income tax, deductions, GST/VAT, corporate tax, and legal tax-saving strategies. Whether you’re filing personal taxes or managing business tax compliance, find reliable explanations and updates on changing tax laws.
What is Section 10(14) of the Income Tax Act
Section 10(14) of the Income Tax Act helps people save money by excluding certain allowances from their taxable income. This
What is Section 80C? Benefits & Investments
A Simple Explanation In India, the government wants people to save money for their future, so they created Section 80C
Crucial Rules of Input Tax Credit (ITC) Under GST: How It Works & Key Conditions
There is a Misconception that GST is paid on the Selling price of the goods and services. Though this fact
Quick Overview of Section 115JB
Section 115JB explains how a company may have to pay a minimum amount of tax based onits book profit rather
Steps to Calculate Book Profit Under Section 115JB (MAT)
Book Profit is the adjusted net profit of a company, calculated based on its Profit & LossAccount as per the
What is MAT (Minimum Alternate Tax)?
What is MAT and how to calculate it? MAT, or Minimum Alternate Tax, is a provision in India that requires
New Tax Regime under Section 115BAC for AY 2025-26
The Indian government has introduced a new tax regime under Section 115BAC of theIncome Tax Act. This provides lower tax