complete tax solutions

Income Tax Management

Complete Tax Solutions for Students, Teachers, Salaried, Professional, Executives & Businessman

Depreciation Rate Chat 2023-24
Rates of Depreciation under Companies Act, 2013 [Depreciation Rate Chart]
As per Part “C” of Schedule II of the Companies Act, 2013 after making following assumptions: The...
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Prescribed Reports-Certificates from a Chartered Accountant
Prescribed Reports/Certificates from a Chartered Accountant under Section 288(2), Explanation
Under the Explanation to section 288(2), an “accountant” means a chartered accountant within...
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Investment Planning for Tax Savings
Investment Planning for Middle Class Family - A.Y. 2022-23 & 2023-24
Investment planning is an essential aspect of financial management, especially for middle-class families....
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Understanding Income Tax (Section 1 To 4)
The Income Tax Law in India is a complex and ever-changing set of regulations that govern the taxation...
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Residential Status of an Individual [Section 6(1) - 6(1A)]
Residential Status of an Individual [Section 6(1) & 6(1A)]
An individual may either be a: (a)       Resident in India; or (b)       Deemed to be Resident In India...
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Residential Status [Sections 5 to 9B]
Residential Status [Sections 5 to 9B]
1.  Scope of Total Income / Incidence of Tax [Section 5] Total income of an assessee cannot be computed...
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Section 9-Income Accrue or Deemed to Accrue or Arise in India
Section 9: Incomes which Accrue or Arise in India or are Deemed to Accrue or Arise in India
Section 9 of the Income Tax Act, 1961 is an important provision that deals with the taxation of income...
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Exempted Incomes-Section 10(1)
Agricultural Income [Section 10(1)]
Agricultural income and its tax treatment in India fall under Section 10(1) of the Income Tax Act, 1961....
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Exempted Incomes-Section 10(2)
Sum received by a Member from HUF [Section 10(2)]
Under Section 10(2) of the Income Tax Act, 1961, the sum received by a member from a Hindu Undivided...
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Exempted Incomes-Section 10(2A)
Share of Profit of a Partner from a Firm [Section 10(2A)]
According to Section 10(2A), any share of profit received by a partner from a firm is exempt from tax....
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Exempted Incomes-Section 10(4)
Interest on Non-resident (External) Account [Section 10(4)]
Interest on Non-resident (External) Account (NRE) is exempt from income tax in India under Section 10(4)(ii)...
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Exempted Incomes-Section 10(4D)
A Exemption of certain income received by a Specified Fund [Section 10(4D)]
Under Section 10(4D) of the Income Tax Act, a specified fund is eligible for certain exemptions on its...
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Exempted Incomes-Section 10(4E)
Exemption of income of a Non-Resident as a result of transfer of non-deliverable forward contracts entered into with an offshore banking unit of International Financial Services Centre (IFSC) [Section 10(4E)] [Inserted W.e.f. A.Y. 2022-23]
Section 10(4E) of the Income Tax Act, 1961 provides an exemption from tax on income arising from the...
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Exempted Incomes-Section 10(4F)
Exemption of income of a non-resident by way of royalty or interest on account of lease of an aircraft paid by a unit of an International Financial Services Centre (IFSC) [Section 10(4F)] [Inserted W.e.f. A.Y. 2022-23]
Section 10(4F) specifically applies to income earned by a non-resident from a unit of an International...
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Exempted Incomes-Section 10(5)
Travel Concession or Assistance received by an individual from his Employer [Section 10(5)]
Section 10(5) of the Income Tax Act allows for certain tax exemptions on travel expenses provided by...
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Exempted Incomes-Section 10(6)
Remuneration to Persons who are not Citizens of India [Section 10(6)]
Section 10(6) of the Income Tax Act, 1961 provides an exemption from income tax for certain income received...
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Exempted Incomes-Section 10(7)
Allowances or Perquisites outside India [Section 10(7)]
According to Section 10(7), allowances or perquisites received by an employee outside of India for rendering...
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Exempted Incomes-Section 10(10)
Death-cum-Retirement Gratuity received by an employee [Section 10(10)]
Death-cum-Retirement Gratuity is an important financial benefit provided to employees in India. It is...
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Exempted Incomes-Section 10(10A)
Payment in Commutation of Pension received by the Employees [Section 10(10A)]
Section 10(10A) of the Income Tax Act in India relates to the tax treatment of payments made in commutation...
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Exempted Incomes-Section 10(10AA)
Leave Encashment [Section 10(10AA)]
Leave encashment refers to the practice of converting accumulated leave into cash. Many organizations...
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