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
Ministry of Finance
HIGHLIGHTS OF UNION BUDGET 2025-26
Posted On: 01 FEB 2025 1:29PM by PIB Delhi
PART...
(1) Introduction to Section-71 (Inter-Head Adjustment)
Under the Indian Income Tax Act, 1961, taxpayers...
1. Basic Concepts
AOP (Association of Persons): Group formed for common purpose (business/profession)
BOI...
A. Purpose of CRS and FATCA
In this globalized economy, tax transparency and compliance has become paramount...
1. Covered Entities (Section 10(23C))
The following enjoy 100% tax exemption on their income:
Funds/institutions...
As per Section 44AA and Rule 6F, persons carrying on Business and Professions specified below are mandatorily...
The commuted value of pension refers to the lump sum amount received by an employee in lieu of a portion...
Interest income is one of the common sources of income for individuals and businesses alike. When it...
Section 10(6B) of the Income Tax Act, 1961, provides a tax exemption to non-residents (including foreign...
Applicable to: Developers of Affordable Housing Projects
This section provides a 100% tax exemption on...
(1) When a company goes into liquidation, it is important to understand the implications it can...
1. Dividend Declaration vs. Retained Earnings
Dividends:
Taxable in shareholders’ hands (10%...
1. Business [Section 2(13)]
Business includes:
Any trade, commerce, or manufacturing activity;
Any adventure...
1. Scope of Total Income / Incidence of Tax [Section 5]
Total income of an assessee cannot be computed...
Section 234E of the Income Tax Act, 1961, imposes a late filing fee for delays in submitting TDS (Tax...
1. Definition & Applicability
Entertainment Allowance is a special allowance given to employees to...
Section 132 of the Income Tax Act empowers tax authorities to conduct searches and seize undisclosed...
Income referred to in Section 68, 69A, 69B, 69C and 69D which are undisclosed income and Investments...
1. Who is Exempt?
Resident Individuals aged 60 years or above(Senior Citizens).
Condition: Must not...
Explanation (iii) to Section 48 of the Income Tax Act, 1961, defines the indexed cost of acquisition for...
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...