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

Inverted Duty Structure (IDS) under GST
The Inverted Duty Structure (IDS) under the Goods and Services Tax (GST) regime is a situation where...
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Section 80P: Deduction in respect of Income of Co-operative Societies
Understanding of Section 80P Section 80P of the Income Tax Act, 1961 provides a deduction in respect...
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Investment in Post Office Time Deposit Account (POTD)
Is one of the most well-known investment schemes offered by the India Post. While the scheme is open...
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GTA and EWAY BILL related Updates under GST
Under the Goods and Services Tax (GST) regime, Goods Transport Agency (GTA) and EWAY BILL are critical...
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[Section 111A] : Tax on Short-Term Capital Gains in case of Equity Shares and Units of Equity Oriented Fund
Here we describe all the Provisions towards Calculation of Tax on Short-term Capital Gains under Section...
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Amendments relating to Income under the Head Profits and Gains of Business or Profession - By Finance Bill 2022
1.  Section 35(1A) relating to Filing Of Statement of any sum received by a Research Association, University,...
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Income Tax and the Principle of Mutuality
1. Understanding the Principle of Mutuality The principle of mutuality relates to the notion that a person...
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Amendment in Prime Minister’s Package for Employment and Skilling Coverage and Estimated Central Outlay under Budget 2024-2025
  Enrolment Duration Expenditure Duration Beneficiaries Central Outlay   Years (lakhs) (Rs....
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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....
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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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Understanding Section 56(2)(viib) of the Income Tax Act, 1961
Section 56(2)(viib) of the Income Tax Act, 1961, is a provision that pertains to closely-held companies...
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Enhancing Tax Transparency on Foreign Assets & Income: Understanding CRS & FATCA
A. Purpose of CRS and FATCA In this globalized economy, tax transparency and compliance has become paramount...
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[Section 54GA] : Exemption of Capital Gain on Transfer of Assets of Shifting of Industrial Undertaking from Urban Area to any Special Economic Zone (SEZ)
Section 54GA of the Income Tax Act provides an exemption on capital gains arising from the transfer of...
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[Section 80DD]: Deduction in respect of Caring & Maintenance including Medical Treatment of a Disabled Dependent
Section 80DD of the Income Tax Act in India provides a deduction for individuals or Hindu Undivided Families...
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Investment in TERM LIFE INSURANCE
Term life insurance, also known as pure life insurance, is a type of life insurance that guarantees payment...
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Section 70: Inter-Source Adjustment – Set Off of Loss from one Source against Income from another Source under the same head of Income
1.  Introduction to Section 70 – The Indian Income Tax Act, 1961, provides various provisions for...
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FORM 3CD: Explanation & Applicability
Tax Audit Forms The Incomes prescribed two types of forms for tax audit: Audit Report: The audit report...
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[Section 115F] : Exemption of Long-Term Capital Gains arising to Non-Resident Indian (NRI) on Transfer of ‘Foreign Exchange Asset’
Understanding and Conditions of Section 115F As a Non-Resident Indian (NRI), understanding the tax implications...
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Notified Special Allowance [Section 10(14)]
Notified special allowance is an allowance that has been notified by the Central Government under Section...
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Amendments relating to Disallowance of the Expenditure in Respect of Exempt Income – by The Finance Bill 2022
1.  Clarification in respect of Disallowance under Section 14A in absence of any Exempt Income during...
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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.

TCS on Remittances Outside India With Recent Changes
Section 206C of the Act provides for tax collection at source (TCS) on business of trading in alcoholic...
TDS Provisions on Partners of The Firm-A New Provision
Section 194T, introduced by the Finance (No. 2) Bill, 2024, is effective from April 1, 2025. This section...
Recent Changes in TDS Provisions- Latest Update
The Budget 2025 has introduced enhanced threshold limits for TDS, ensuring that smaller transactions...
Presumptive Assessment Under Income Tax Act- An Analysis
To give relief to small taxpayers from the tedious job of maintenance of books of account and from getting...
Major TDS Amendments Effective from 1st April 2025: A Comprehensive Overview
To simplify tax compliance and enhance the ease of doing business, the Finance Act has proposed significant...
Different Income Tax Forms for Filing Income Tax Return
The taxpayer has to communicate the details of his taxable income/loss to the Income tax Department....
Form 15CA and Form 15CB in Foreign Remittances under Income Tax Act, 1961
INTRODUCTION: Form 15CA and Form 15CB are essential documents under the Income Tax Act, 1961, for foreign...
Section 132: Search and Seizure Under Income Tax Act, 1961
Section 132 of the Income Tax Act, 1961, empowers the Income Tax Department to conduct search and seizure...
TDS on Rent Payments U/s 194I of Income Tax Act, 1961
Section 194-I of the Income Tax Act, 1961, a crucial piece of legislation in India, governs the taxation...
Exemption from Capital Gains for Individuals and HUFs
Under the Income Tax Act, 1961, individuals and Hindu Undivided Families (HUFs) can claim exemptions...
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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.

Highlights of Union Budget 2025-26
Ministry of Finance HIGHLIGHTS OF UNION BUDGET 2025-26 Posted On: 01 FEB 2025 1:29PM by PIB Delhi PART...
CBDT Notifies Amendments in Income-Tax Rules, 1962 to prescribe conditions for applicability of Presumptive Taxation Regime for Non-Resident Cruise Ship Operators
Ministry of Finance Posted On: 22 JAN 2025 8:09PM by PIB Delh CBDT notifies amendments in Income-tax...
Enhancing Tax Transparency on Foreign Assets & Income: Understanding CRS & FATCA
A. Purpose of CRS and FATCA In this globalized economy, tax transparency and compliance has become paramount...
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...
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