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
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income Tax Management
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AYs : 2025-26 & 2026-27
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> Coveting 28 Chapters with 1280 Pages
A. Changes in Basic Customs Duty (to be effective from 24.07.2024)
S. No.
Chapter, Heading, sub-...
Assessment of Charitable Organizations When Commercial Receipts Exceed 20% Threshold [Section 13(8)]
1. Key Provision (Section 13(8))
Introduced by Finance Act 2022(Effective AY 2023-24)
Applies whena...
1. Basic Framework
Companies are taxed on their total incomecomputed under the Income Tax Act, 1961.
Tax...
Section 10(5) of the Income Tax Act, 1961, provides an exemption for Leave Travel Concession (LTC) or Leave...
1. Fundamental Principle
TDS Credit Mechanism: Any tax deducted at source (TDS) is treated as:
Payment...
Every person shall quote his permanent account number in all documents pertaining to the transactions...
Business trusts have gained popularity in recent years as a unique investment vehicle. They offer investors...
Section 158AA of the Income Tax Act, 1961 (inserted via Finance Act, 2015) provides a mechanism to prevent...
As per Part “C” of Schedule II of the Companies Act, 2013 after making following assumptions:
The...
Overview of Section 112
Section 112 of the Income Tax Act, 1961 governs the taxation of long-term capital...
Long-term capital gain arising on the transfer of any capital asset being land or building or both is...
Section 194LBA of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on specific income...
Interest incomes which are exempt under section 10(15) could be explained with the help of the following...
When income is clubbed under Sections 60-65 of the Income Tax Act, it is taxed under the same head as...
Section 169 of the Finance Act, 2016 (Chapter VIII) governs the rectification of mistakes in the context...
Applicable to: Individuals & HUFs (Non-Senior Citizens)
This section provides tax relief on interest...
Leave salary, or leave encashment, refers to the payment an employee receives for unused leave days....
Tax on distributed income of domestic company for buy-back of shares
Special provisions relating to tax...
Employee Stock Option Plans (ESOPs) are popular mechanisms through which companies attract, retain, and...
1. Key Features of Section 69A
Objective: Targets unexplained money, jewellery, or assetsfound in possession...
Knowledge Base on Taxation
It provides a solid foundation for a Knowledge Base on Taxation, covering both theoretical and practical elements.
Section 206C of the Act provides for tax collection at source (TCS) on business of trading in alcoholic...
Section 194T, introduced by the Finance (No. 2) Bill, 2024, is effective from April 1, 2025. This section...
The Budget 2025 has introduced enhanced threshold limits for TDS, ensuring that smaller transactions...
To give relief to small taxpayers from the tedious job of maintenance of books of account and from getting...
To simplify tax compliance and enhance the ease of doing business, the Finance Act has proposed significant...
The taxpayer has to communicate the details of his taxable income/loss to the Income tax Department.
These...
INTRODUCTION:
Form 15CA and Form 15CB are essential documents under the Income Tax Act, 1961, for foreign...
Section 132 of the Income Tax Act, 1961, empowers the Income Tax Department to conduct search and seizure...
Section 194-I of the Income Tax Act, 1961, a crucial piece of legislation in India, governs the taxation...
Press Release by PIB (Press Information Bureau)
Press Release by Press Information Bureau (PIB) is the nodal agency of the Government of India.
Ministry of Finance
HIGHLIGHTS OF UNION BUDGET 2025-26
Posted On: 01 FEB 2025 1:29PM by PIB Delhi
PART...
Ministry of Finance
Posted On: 22 JAN 2025 8:09PM by PIB Delh
CBDT notifies amendments in Income-tax...
A. Purpose of CRS and FATCA
In this globalized economy, tax transparency and compliance has become paramount...
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...
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
New Delhi,...
Ministry of Finance
FAQs issued by CBDT on the new Capital Gains Tax Regime proposed in the Union Budget...
Ministry of Finance
GOVERNMENT MAKES NEW TAX REGIME MORE ATTRACTIVE
STANDARD REDUCTION INCREASED FROM...
Ministry of Finance
CAPITAL GAINS TAXATION SIMPLIFIED AND RATIONALISED
SHORT TERM GAINS TO ATTRACT A...