complete tax solutions

Income Tax Management

Complete Tax Solutions for Students, Teachers, Salaried, Professional, Executives & Businessman

complete tax solutions

Income Tax Management

Complete Tax Solutions for Students, Teachers, Salaried, Professional, Executives & Businessman

Prescribed Audit Reports under the Income Tax Rules/ Act.
Under the Income Tax Rules/ Act, certain taxpayers are required to get their accounts audited and submit...
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Section 80G: Deduction in respect of Donation to certain Funds, Charitable Institutions, etc.
Section 80G of the Income Tax Act, 1961 provides provisions for claiming deductions on donations made...
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Speech on Direct Taxes (Part-B) of Nirmala Sitharaman, Minister of Finance, July 23, 2024. (Budget 2024-2025)
We will continue our efforts to simplify taxes, improve tax payer services, provide tax certainty and...
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Amounts Not Deductible [Section 40(a), 40(b), 40(ba)] -Profits and Gains of Business or Profession
Notwithstanding anything contained in sections 30 to 38, the following amounts shall not be deducted...
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Amendments relating to Appeals and Revisions by the Finance Bill, 2022
1.  Litigation management when in an appeal by revenue an identical question of law is pending before...
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[Section 50C] : Computation of Capital Gains in Real Estate Transactions
Section 50C of the Indian Income Tax Act, 1961, is applicable to the computation of capital gains in...
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Provisions and Amendments Relating to “Widening and Deepening of Tax Base and Anti-Avoidance” under Finance (No.2) Bill, 2024.
Tax on distributed income of domestic company for buy-back of shares Special provisions relating to tax...
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Annual value of one ‘Palace’ of the Ex-Ruler [Section 10(19A)]
Section 10(19A) of the Income Tax Act, 1961, exempts the annual value of one palace in the occupation...
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Instance of Income held to be Agricultural / Non-Agricultural Income
In the following Cases, Instances of Agricultural and Non-Agricultural Incomes are described in details...
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Agricultural Income [Section 2(1A)]
Section 10(1) of the Income-tax Act, 1961 exempts agricultural income from income-tax. However, net agricultural...
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[Section 54F] : Exemption of Capital Gain on Transfer of Asset, other than a Residential House
In India, the Income Tax Act provides various exemptions to taxpayers to encourage investments and promote...
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Exemption for Compensation received or receivable on account of any Disaster [Section 10(10BC)]
When a disaster strikes, it can cause immense damage to life and property. In such difficult times, the...
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Capital Gain in case of Zero-Coupon Bonds on its Maturity and Redemption
Zero-coupon bonds, also known as deep discount bonds, are fixed-income securities that do not pay periodic...
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Amendments relating to Direct Taxes under Budget 2024-25 (Annexure to Part B)
(A) Providing Tax Relief A.1 Substantial relief is proposed under the new tax regime with new slabs and...
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[Section 56(2)(i)] : Taxability of Dividend under Income from Other Sources
Understanding of Section 56(2)(i) In India, the taxation of dividends is governed by the provisions of...
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‘Income from Other Sources’- Taxability [Section 56 to 59]
1.  [Section 56(2)]: List of Incomes included under ‘Income from Other Sources’ There are many incomes...
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Changes Brought About in Capital Gains in the Finance (No.2) Bill, 2024
The Finance (No. 2) Bill, 2024, has introduced several significant amendments to the capital gains tax...
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Exemption in respect of income of a foreign company on account of storage of Crude Oil in a facility in India and sale of Crude Oil therefrom [Section 10(48A) & 10(48B)]
Section 10(48A) of the Income Tax Act provides an exemption in respect of income earned by a foreign...
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Unexplained Cash Credits, Investments, Money, Etc. [ Section 68 TO 69D]
1.  Unexplained Cash Credits [Section 68] Where any sum is found credited in the books of an assessee,...
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Income of an individual being a Sikkimese [Section 10(26AAA)]
Income tax laws can be complex and confusing, especially when it comes to understanding the various exemptions...
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Knowledge Base on Taxation

It provides a solid foundation for a Knowledge Base on Taxation, covering both theoretical and practical elements.

Equalisation Levy (EL) Act, 2016
It was introduced under chapter VIII of Finance Act, 2016. This chapter came in to force from 1st June,...
Equalisation Levy (EL) Rules, 2016
S.O. 1905(E) – In exercise of the powers conferred by sub-section (1) and sub-section (2) of section...
Equalisation Levy (EL) Statement Scheme,2023
S.O. 614(E).-In exercise of the powers conferred by sub-section (2) of section 168 of Finance Act, 2016...
Equalisation Levy (EL) Booklet
1. What is equalization levy (EL)? This is a tax leviable on consideration received or receivable by...
Changes Brought About in Capital Gains in the Finance (No.2) Bill, 2024
The Finance (No. 2) Bill, 2024, has introduced several significant amendments to the capital gains tax...
Understanding Advance Tax and Self-Assessment Tax in India
Understanding the intricacies of advance tax and self-assessment tax is crucial for both compliance and...
Detailed Analysis of Section 234C of the Income Tax Act.
Section 234C of the Income Tax Act, 1961, pertains to the levy of interest for deferment of advance tax....
Comprehensive Analysis on ESOP Taxation in India
Employee Stock Option Plans (ESOPs) are popular mechanisms through which companies attract, retain, and...
FORM 3CD: Explanation & Applicability
Tax Audit Forms The Incomes prescribed two types of forms for tax audit: Audit Report: The audit report...
Understanding the Taxation of Dividends in India: From Dividend Distribution Tax to Recipient-Based Taxation
The taxation of dividends in India has undergone significant changes over the years. This article aims...
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Press Release by PIB (Press Information Bureau)

Press Release by Press Information Bureau (PIB) is the nodal agency of the Government of India.

CBDT rolls out e-DRS Scheme, 2022 (PIB Press Release)
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes ****** New...
CBDT issues clarification in respect of Income-tax clearance certificate (ITCC)-Press Release by PIB
Ministry of Finance CBDT issues clarification in respect of Income-tax clearance certificate (ITCC) It...
CBDT relaxes provisions of TDS/TCS in the event of death of deductee/collectee before linkage of PAN and Aadhaar-(Press Release by PIB)
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi,...
FAQs issued by CBDT on the new Capital Gains Tax Regime proposed in the Union Budget 2024-25 - (Press Release by PIB)
Ministry of Finance FAQs issued by CBDT on the new Capital Gains Tax Regime proposed in the Union Budget...
Government Makes New Tax Regime More Attractive Under Budget 2024-25 (Press Release by PIB)
Ministry of Finance GOVERNMENT MAKES NEW TAX REGIME MORE ATTRACTIVE STANDARD REDUCTION INCREASED FROM...
Capital Gains Taxation Simplified and Rationalised under Budget 2024-25-Press Release by PIB
Ministry of Finance CAPITAL GAINS TAXATION SIMPLIFIED AND RATIONALISED SHORT TERM GAINS TO ATTRACT A...
Highlights of The Union Budget 2024-25 - Press Release by PIB
Ministry of Finance HIGHLIGHTS OF THE UNION BUDGET 2024-25 Posted On: 23 JUL 2024 1:17PM by PIB Delhi The...
CBDT extends due date for filing Form 10A/10AB-Press Release by PIB
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes ****** New...
CBDT clarifies on media reports claiming special drive to reopen cases with reference to HRA claims - Press Release by PIB
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes ****** New...
Functionalities to file commonly used ITRs enabled by CBDT on 1st April, 2024
Government of India Department of Revenue Ministry of Finance Central Board of Direct Taxes New Delhi,...
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