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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Notification No. 04/2025 [F. No. 196/1/2023-ITA-I] Dated 3nd January, 2025
MINISTRY OF FINANCE
(Department...
Rule 12 of the Income Tax Rules, 1962, prescribes the forms, conditions, and procedures for filing income...
Section 55(1)(b) of the Income Tax Act, 1961, defines the cost of improvement for capital assets, which...
Understanding the intricacies of advance tax and self-assessment tax is crucial for both compliance and...
Permanent Account Number (PAN) is a unique ten-digit alphanumeric code issued by the Income Tax Department...
Circular No. 07/2024 [F. No.173/25/2024-ITA-I] Dated 25th April, 2024: A Detailed Analysis
The Central...
Goods and Services Tax (GST) in India is a comprehensive, multi-stage, destination-based tax that is...
Section 115JB mandates that companies calculate Minimum Alternate Tax (MAT) based on book profits (derived...
1. Definition of ‘Transfer’ [Section 2(47)]
A transfer includes:
Sale, exchange, or relinquishment
Compulsory...
Section 10(19) of the Income Tax Act provides an exemption for the family pension received by the family...
Section 206C(1G) of the Income Tax Act, 1961 mandates Tax Collected at Source (TCS) on:
Outbound remittancesunder...
1. Overview
Legal Provision: Allows TCS collectorsto file a correction statement to rectify errors in...
The article you’re viewing discusses significant changes to the regulations governing Charitable Trusts...
The Income Tax Appellate Tribunal (ITAT) is the final fact-finding authority under the Income Tax Act,...
Here’s a detailed explanation of Penalty under Section 271H of the Income Tax Act, 1961, which applies...
Section 139AA was introduced in the Income Tax Act, 1961, with effect from July 1, 2017, to make it mandatory...
1. Dividend Declaration vs. Retained Earnings
Dividends:
Taxable in shareholders’ hands (10%...
1. Gratuity
Gratuity is a payment made by the employer to an employee in appreciation of the past services...
Section 145 of the Income Tax Act, 1961 governs the method of accounting for computing taxable income...
Section 194M of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on certain payments made...
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...