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
Section 80C of the Income Tax Act allows individuals to claim deductions on certain investments and expenses,...
Section 63 defines what constitutes a revocable transfer for the purposes of Section 61. It clarifies...
S.O. 614(E).-In exercise of the powers conferred by sub-section (2) of section 168 of Finance Act, 2016...
1. Legal Basis for TDS Certificates
Section 203of the Income Tax Act, 1961 mandates that every deductor must...
There are many incomes which are taxable under the head ‘Income from Other Sources’. However, section...
1. Fundamental Principle
TDS Credit Mechanism: Any tax deducted at source (TDS) is treated as:
Payment...
It was introduced under chapter VIII of Finance Act, 2016. This chapter came in to force from 1st June,...
Section 140 of the Income Tax Act, 1961 specifies who must verify the return of income and the authorized...
Section 139(5) of the Income Tax Act, 1961, allows taxpayers to correct errors or omissions in their...
Section 10(23AAA) of the Income Tax Act provides an exemption for income received by any person on behalf...
Section 194LB of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on interest payments...
Section 245 of the Income Tax Act, 1961 allows the Income Tax Department to adjust (set off) a taxpayer’s refund...
Section 10(13) of the Income Tax Act, 1961 provides tax exemptions on payments received from an approved...
Retrenchment compensation received by an employee due to termination of employment is partially exempt from...
The Income Tax Law in India is a complex and ever-changing set of regulations that govern the taxation...
Short Answer: No, the Annual Value (AV) or Net Annual Value (NAV) of a property cannot be negative under...
S.O. 1905(E) – In exercise of the powers conferred by sub-section (1) and sub-section (2) of section...
Circular No. 03/2025 [F. No. 275/107/2024-IT(B)] Dated 20th February, 2025
Government of India
Ministry...
Section 194-IB of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on rent payments exceeding ₹50,000/month by individuals...
Key Rule:
Section 61 (taxation of revocable transfers) does NOT applyif the transfer is irrevocable...
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...