Income Tax Updates
400 Words to Sharpen Your personal tax knowledge
#44 – On TDS on Salary (Sec. 192)
Section 192 of the Income Tax Act, 1961, deals with TDS from Salary. This an important provision that ensures taxes are collected from employees’ earnings before they receive their salary.
#43 – On Perquisits in Income Tax [Sec. 17(2)]
The Income Tax Act contains various sections dealing with taxation of different types of income. One important section is Section 17(2), Perquisits in Income Tax. This is the part of
#42 – On House Rent Allowance [Sec. 10(13A)]
In India, Section 10(13A) of the Income Tax Act governs the tax treatment of HRA. House Rent Allowance (HRA) is a key benefit provided by employers to help employees manage
#41 – On Income from Other Sources
In India, income is classified under various heads for tax purposes, and one of them is “Income from Other Sources.” This category includes any income that doesn’t fall under traditional
#40 – On Income from Capital Gains
In India, income from capital gains is a key part of the Income Tax Act. This income arises from the sale of assets like property, stocks, or mutual funds. Here’s
#39 – On Income from Business & Profession
In India, your income is taxed based on different categories, and one important category is “Income from Business & Profession.” This category includes earnings that are derived from running a
#38 – On Income from House Property
In India, income from house property is an important category of income that is taxable under the Income Tax Act. This income generally comes from owning a property that you
#37 – On Income from Salary
Income from salary is one of the primary sources of income for many individuals and is governed by the Income Tax Act, 1961 in India. This type of income includes
#36 – On The 5 Heads of Income
Income tax in India is categorized into five main heads. These heads cover various sources of income that individuals and businesses earn throughout the financial year. Understanding these categories of