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

Most Useful by …
> CA and Tax Professionals,
> Business Owner and Entrepreneurs,
> Individuals Filing Their Own Taxes,
> Financial Planners and Wealth Managers &
> Students and Academicians. 
> Coveting 28 Chapters with 1280 Pages

Search and Seizure [Section 132]
Section 132 of the Income Tax Act empowers tax authorities to conduct searches and seize undisclosed...
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Tax Treatment of Losses in Partnership Firms [Sections 75-77]
1. Set-Off Rules for Current Year Losses Intra-head adjustment (Section 70): Business losses can be set...
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Computation of Book Profit Under Explanation 1 to Section 115JB (1) & (2)
Section 115JB mandates that companies calculate Minimum Alternate Tax (MAT) based on book profits (derived...
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Expenses on Transfer of Capital Asset (Deductible from Capital Gains)
Under Section 48 of the Income Tax Act, 1961, certain expenses incurred during the transfer of a capital...
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Compulsory Tax Audit Under Section 44AB Even if Accounts Are Audited Under Other Laws
Yes, a tax audit under Section 44AB is compulsory even if the accounts are already audited under: Other...
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Expenses Expressly Allowed as Deductions [Sections 30 to 37] – Complete Guide
Under the Income Tax Act, 1961, the following business/profession expenses are expressly allowed as deductions...
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Section 10(23BBE)- Tax Exemption for the income of the Insurance Regulatory and Development Authority (IRDA)
Section 10(23BBE) of the Income Tax Act provides a complete tax exemption for the income of the Insurance...
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Tax Collection at Source (TCS) - Lower Rate Provisions [Section 206C (9), (10), (11) and Rules 37G and 37H]
Here’s a structured overview of Collection of Tax at Lower Rate under Section 206C(9), (10), (11)...
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Tax Exemptions for Funds/Institutions of National Importance [Section 10(23C) & Rules 2C/2CA]
1. Covered Entities (Section 10(23C)) The following enjoy 100% tax exemption on their income: Funds/institutions...
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[Section 282A]: Authentication of Notices & Documents
1. What is Section 282A? Section 282A mandates proper authentication of all income tax notices, orders,...
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[Section 273AA] : Power of Principal Commissioner / Commissioner to Grant Immunity from Penalty
Section 273AA of the Income Tax Act, 1961, empowers the Principal Commissioner or Commissioner to grant...
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[Section 244A]: Interest Payable to Assessee on Tax Refunds
Section 244A of the Income Tax Act, 1961, governs the interest paid by the Income Tax Department to taxpayers...
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Exemption of Capital Gains on Compensation received on Compulsory Acquisition of Agricultural Land situated within Specified Urban Limits [Section 10(37)]
Section 10(37) of the Income Tax Act, 1961 provides for the exemption of capital gains on compensation...
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Steps for Formation of a Charitable / Religious Trust in India
To establish a legally valid charitable or religious trust, follow these key steps under Indian law:...
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Section 206CC: Higher TCS Rate for Non-Furnishing of PAN
Section 206CC of the Income Tax Act, 1961 mandates a higher Tax Collected at Source (TCS) rate if the...
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House Rent Allowance [Section 10(13A)]
House Rent Allowance (HRA) is a common component of most employees’ salary packages. It is provided...
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Section 10(15)- Tax Exemption on Interest Income
This section provides tax exemptions on certain types of interest income earned from specified bonds,...
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Section 206CCA: Higher TCS for Non-Filers of Income Tax Returns
1. Overview Introduced: Finance Act 2021 (effective from 1st July 2021). Purpose: Imposes higher Tax...
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Filing of Return in Electronic Form [Section 139D]
Section 139D of the Income Tax Act, 1961, mandates electronic filing (e-filing) of income tax returns...
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[Section 56(2)(ii)]: Taxability of Income from Letting Out of Machinery, Plant or Furniture
Under the Indian Income Tax Act, 1961, the taxability of income from letting out of machinery, plant,...
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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 (Section-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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