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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> Coveting 28 Chapters with 1280 Pages
Section 43B- Deductions Allowed only on Actual Payment -Profits and Gains of Business and Profession
Under Section 43B, some of the Expenses are allowed and can be claimed by the Assessee only in the year...
Section 132B governs how assets seized under Section 132 or requisitioned under Section 132A are to be utilized,...
Certain BCD exemptions entries under S No. 50/2017-Customs dated 30.6.2017 and other notifications are...
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
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New...
The Indian Income Tax Act, 1961 classifies taxable income under five distinct heads, with “Income...
Yes, under Section 238 of the Income Tax Act, 1961, a person other than the assessee can claim a refund...
Section 25A of the Income Tax Act, 1961, governs the tax treatment of arrears of rent (unpaid rent recovered...
1. Understanding the Principle of Mutuality
The principle of mutuality relates to the notion that a person...
Notification No. 03/2025 [F. No. 275/109/2024-IT(B)] Dated 2nd January, 2025
MINISTRY OF FINANCE
(Department...
Here’s a detailed breakdown of Section 270A of the Income Tax Act, 1961, which imposes penalties for under-reporting and misreporting of...
Section 10(4E) of the Income Tax Act, 1961 provides an exemption from tax on income arising from the...
1. Legal Provision
Section 206C(4)ensures that the buyer (collectee) receives credit for the TCS amount...
Here’s a comprehensive analysis of Section 56(2)(viib) of the Income Tax Act, 1961, which taxes share...
Under Section 10(35A) of the Act, any income received by an investor from a securitisation trust is exempt...
Purpose:
This section provides a tax exemption on payments received as awards, rewards, or prizes from:
Central/State...
Applicable to: First-time homebuyers of affordable housing
This section provides an enhanced tax benefit for...
Section 73 of the Income Tax Act, 1961, governs the treatment of speculation business losses, imposing...
Under the Income Tax Act, 1961, Sections 115QA to 115QC impose a tax on distributed income when a domestic...
Section 10(12B) of the Income Tax Act, 1961 provides tax exemption to partial withdrawals from the National...
Section 10(32) of the Income Tax Act provides a modest exemption when a minor child’s income is clubbed...
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
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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...