Section 10 – Tax Exemptions, Allowances & How to Claim
Overview Section 10 of the Income Tax Act, 1961 provides a list of exemptions on certain types of income such as House Rent Allowance (HRA), Leave Travel Allowance (LTA), interest…
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Overview Section 10 of the Income Tax Act, 1961 provides a list of exemptions on certain types of income such as House Rent Allowance (HRA), Leave Travel Allowance (LTA), interest…
A uniform allowance is money given by employers to help employees buy and maintain the uniforms they need for work. It’s usually provided in jobs with specific dress codes, like…
Under the Companies Act, 2013, companies are grouped according to how many members they have.The Micro, Small and Medium Enterprises (MSME) Act further divides businesses into micro, small, and medium…
Income tax slabs specify the rate of tax payable for different income levels. For the financial year 2025–26, a major relaxation in these slabs has been introduced, significantly lowering overall…
When purchasing property in Maharashtra, buyers must pay both stamp duty and registration charges to have the property officially recorded. If you are planning to buy property in the state,…
GSTR-3B is a summary GST return that taxpayers are required to file regularly to report sales, input tax credit (ITC) claims, tax liabilities, refunds, and other details linked to their…
Profits earned from selling a property are liable to capital gains tax. When a property is sold within two years of purchase, the profit is treated as short-term capital gain…
Sovereign Gold Bonds (SGBs) are a secure and convenient gold investment offered by the Reserve Bank of India (RBI). Compared to physical gold, SGBs provide multiple advantages, making them a…
Under the provisions of the Income Tax Act, 1961, certain persons are required to have their books of accounts audited before submitting their income tax return. Businesses and professionals whose…
The Income Tax Department has specified different ITR forms for taxpayers based on their income sources, residential status, income level, and legal category (individual, firm, company, etc.). What is ITR?…