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“Landmark Tax Cases: Income from Other Sources in Focus”

The concept of Income from Other Sources under the Income Tax Act, 1961, acts as a residual head, capturing incomes that do not fall under specific categories like salary, business income, or capital gains. Over the years, various judicial

“How to Handle Taxes on Bonus Shares and Share Buybacks”

Bonus shares and share buybacks are unique methods of rewarding shareholders. Under the Income Tax Act, 1961, these transactions are subject to specific tax treatments to ensure compliance and fairness. While bonus shares represent additional shares issued to shareholders,

“A Complete Guide to Deemed Dividend Taxation Under Sections 2(22)(a)-(e)”

The concept of deemed dividends under the Income Tax Act, 1961 ensures that certain transactions benefiting shareholders are taxed as dividends, even though they are not formally declared by the company. Sections 2(22)(a) to 2(22)(e) outline the types of

“What You Need to Know About Deemed and Actual Dividends”

Dividends represent a return on investment for shareholders, typically paid out of a company’s profits. However, under the Income Tax Act, 1961, dividends can be categorized into two types: Actual Dividends and Deemed Dividends. Understanding the distinction between these

“How to Calculate Taxes on Royalty Income in India”

Royalty income is derived from allowing the use of intellectual property, patents, copyrights, trademarks, or other similar rights. Under the Income Tax Act, 1961, royalty income is generally taxed under the head 'Income from Other Sources,' unless it qualifies

“Simplified Tax Rules for Director’s Sitting Fees and Commissions”

Director’s sitting fees and commissions are common payments made to directors for their services. Under the Income Tax Act, 1961, these payments are categorized as 'Income from Other Sources' or 'Income from Salary,' depending on the nature of the

“Tax Rules for Family Pension Income: A Complete Guide”

Family pension is a payment received by the legal heirs of a deceased employee as a periodic income. Under the Income Tax Act, 1961, family pension is taxable under the head 'Income from Other Sources.' The Act provides specific

“How to Calculate Taxes on Sub-Letting Income in India”

Income from sub-letting is a unique category of income that arises when a tenant rents out a property (or part of it) to another party. Under the Income Tax Act, 1961, such income is not treated as income from

“How to Claim Deductions on Dividend Income Under Section 57”

Under the Income Tax Act, 1961, dividend income and the interest associated with it are taxable under the head 'Income from Other Sources.' Section 57 allows taxpayers to claim specific deductions related to expenses incurred for earning such income,

What Deductions Are Permissible from Income Under Section 57?

Under the Income Tax Act, 1961, Section 57 outlines the deductions allowed from income taxable under the head 'Income from Other Sources.' This section ensures taxpayers can offset certain expenses directly related to earning such income, thereby reducing their

Author: CA HARSH GARG