Income Tax Management

The Capital Gains Accounts Scheme (CGAS) 1988 is a scheme under the Income Tax Act, 1961, in India. It...

Here we describe all the Provisions towards Calculation of Tax on Short-term Capital Gains under Section...

(1)      Conditions to be satisfied for applicability of Section 112A [Section 112A(1)]: Notwithstanding...

Chargeability/Scope/Meaning of Income under the head “Profits and Gains of Business and Profession” under...

Section 30 to 35 covers the following expenses Allowed as Deduction while computing Profits and Gains...

List of all Other Deductions which are specified under section 36 of the Indian Income Tax Act,1961,...

Any expenditure (not being expenditure of the nature described in sections 30 to 36) and not of capital...

Notwithstanding anything contained in sections 30 to 38, the following amounts shall not be deducted...

The provisions, which are being discussed under various sub-sections of section 40A have overriding effect ...

Under Section 43B, some of the Expenses are allowed and can be claimed by the Assessee only in the year...

Income referred to in Section 68, 69A, 69B, 69C and 69D which are undisclosed income and Investments...

What are the Deemed Profits and how they chargeable to Tax as Business Income 1. Recovery against any...

As per Section 44AA and Rule 6F, persons carrying on Business and Professions specified below are mandatorily...

Following Business are required to get their Accounts compulsory Tax Audited by a Chartered Accountant...

Special Provisions for computing Business income in certain cases on the basis of Estimated Income Method...

Income under the head ‘Income from House Property’ under Section 22 to 27 has been described with practical...

1. Computation of Income under the head Income from “Salaries” The first head of income is...

1.  Allowances- Income under the head Salaries Allowance is a fixed monetary amount paid by the employer...

1.  Perquisites [(Section 17(2)]-Definition Section 17(2) of the Income-tax Act, 1961 gives an inclusive...

Accommodation provided to the employee may be— (i)      unfurnished (ii)     furnished Further, such...