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
1. Allowances- Income under the head Salaries
Allowance is a fixed monetary amount paid by the employer...
Being a Member of Parliament (MP) or a Member of Legislative Assembly (MLA) is a position of great responsibility....
Section 92 of The Income Tax Act 1961, states that any income, expenditure interest & allocation...
1. Provisions of Section 79 not to apply In case of Strategic Disinvestment of Public Sector Companies...
Section 234C of the Income Tax Act, 1961, pertains to the levy of interest for deferment of advance tax....
1. Section 70: Inter-Source Adjustment – Set Off of Loss from one Source against Income from another...
Circular No. 07/2024 [F. No.173/25/2024-ITA-I] Dated 25th April, 2024: A Detailed Analysis
The Central...
The rules for valuation of specified fringe benefits or amenities arc as under:
1. Interest Free Or...
1. Perquisites [(Section 17(2)]-Definition
Section 17(2) of the Income-tax Act, 1961 gives an inclusive...
SCSS is a savings product available for senior citizens aged 60 or above. On the date of opening an SCSS...
Exemption of amount received by an individual as Loan under Reverse Mortgage Scheme [Section 10(43)]
Reverse mortgage is a financial scheme that allows senior citizens to convert their home equity into...
as per Part “C” of Schedule II of the Companies Act, 2013 after making following assumptions:
The...
1. Investment in Sukanya Samriddhi Yojana for Tax Saving for AY 2022-23 & 2023-24
Sukanya Samriddhi...
Section 80TTB of the Income Tax Act, 1961 provides a special deduction to senior citizens in respect...
In order to monitor high-value transactions conducted by taxpayers, a significant regulatory measure...
Provident Fund (PF) is a social security scheme in India that provides financial assistance to employees...
Income referred to in Section 68, 69A, 69B, 69C and 69D which are undisclosed income and Investments...
Provisions and Amendments Relating to “Goods and Service Tax (GST)” under Finance (No.2) Bill, 2024.
Note:
(a) CGST Act means Central Goods and Services Tax Act, 2017
(b) IGST Act means...
Tax on distributed income of domestic company for buy-back of shares
Special provisions relating to tax...
Section 50C of the Indian Income Tax Act, 1961, is applicable to the computation of capital gains in...
Knowledge Base on Taxation
It provides a solid foundation for a Knowledge Base on Taxation, covering both theoretical and practical elements.
It was introduced under chapter VIII of Finance Act, 2016. This chapter came in to force from 1st June,...
S.O. 1905(E) – In exercise of the powers conferred by sub-section (1) and sub-section (2) of section...
S.O. 614(E).-In exercise of the powers conferred by sub-section (2) of section 168 of Finance Act, 2016...
1. What is equalization levy (EL)?
This is a tax leviable on consideration received or receivable by...
The Finance (No. 2) Bill, 2024, has introduced several significant amendments to the capital gains tax...
Understanding the intricacies of advance tax and self-assessment tax is crucial for both compliance and...
Section 234C of the Income Tax Act, 1961, pertains to the levy of interest for deferment of advance tax....
Employee Stock Option Plans (ESOPs) are popular mechanisms through which companies attract, retain, and...
Tax Audit Forms
The Incomes prescribed two types of forms for tax audit:
Audit Report:
The audit report...
Press Release by PIB (Press Information Bureau)
Press Release by Press Information Bureau (PIB) is the nodal agency of the Government of India.
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...
Ministry of Finance
HIGHLIGHTS OF THE UNION BUDGET 2024-25
Posted On: 23 JUL 2024 1:17PM by PIB Delhi
The...
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
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New...
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
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New...