Section 43A of Income Tax Act: Adjustment for Foreign Exchange Fluctuations
Section 43A ensures businesses adjust the cost of things (like machinery) bought from abroad if the exchange rate…
Section 40A(3) of Income Tax Act: Cash Payment Limit, Exceptions, and Disallowance
Section 40A(3) is a rule in India’s tax law that says businesses or professionals can’t claim business expense…
Section 37 of Income Tax Act: General Deduction for Business & Professional Expenses
Section 37 of the Income Tax Act Businesses and professionals often spend money to earn money—on things like…
Section 35AD of Income Tax Act: Deduction for Capital Expenditure in Specified Businesses
Introduction to Section 35AD Section 35AD lets businesses deduct all money spent on special assets (not land) in…
Section 35: Tax Benefits for Scientific Research & Development (R&D)
What is Section 35? Section 35 is a rule in India’s tax law that lets people or companies…
Section 80EEB: Tax Deduction on Interest for Electric Vehicle Loans
What is Section 80EEB of the Income Tax Act? In 2019, the Government of India introduced Section 80EEB…
Section 80GGC: Tax Deduction for Donations to Political Parties in India
What is Section 80GGC of the Income Tax Act? The Government of India introduced Section 80GGC to encourage…
Section 80AC of the Income Tax Act: Mandatory Return Filing for Claiming Tax Deductions
What is Section 80AC of the Income Tax Act? The Income Tax Act has several chapters that allow…
Aadhaar Card vs. PAN Card: Which One Do You Need?
You often hear about Aadhaar and PAN cards, two vital documents in India. But which one do you…
Common PAN Card Mistakes and How to Avoid Them
Applying for a PAN card is a straightforward yet crucial process, given the card’s importance in financial and…