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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Section 194Q of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payments made by buyers to resident...
Under Section 139(4A) of the Income Tax Act, 1961, charitable and religious trusts/institutions must...
To establish a legally valid charitable or religious trust, follow these key steps under Indian law:
1....
Yes, a loss can arise under “Income from House Property” due to high interest on home loans or low...
Political parties play a crucial role in any democratic society. They serve as the voice of the people,...
Notification No. 07/2025 [F. No. 203/20/2024/ITA-II] Dated 14th January, 2025
MINISTRY OF FINANCE
(Department...
Section 167 of the Finance Act, 2016 (Chapter VIII) governs the furnishing of statements for the Equalisation...
1. Legal Basis
Section 206C(3): Mandates deposit of Tax Collected at Source (TCS)to the Central Government...
Here’s a detailed breakdown of tax-free perquisites applicable to all employees under the Income Tax...
Gratuity is a significant part of an employee’s remuneration package. It is a payment made by an employer...
1. Overview
Section 115BA provides a concessional tax rate of 22% (plus surcharge & cess) for new...
Section 132B governs how assets seized under Section 132 or requisitioned under Section 132A are to be utilized,...
Applicable to: Individual taxpayers buying their first home
This section provides an additional tax benefit for...
Applicable to: Indian Companies
This section provides 100% tax deduction for contributions made by Indian...
Section 44AD provides a presumptive taxation scheme for small businesses, allowing them to declare income...
1. Basic Concept of HUF
An HUF (Hindu Undivided Family) is a separate legal entity for tax purposes,...
(A) In the case of every Individual or Hindu Undivided Family (HUF)
(A1) If the individual or HUF...
1. Definition of ‘Transfer’ [Section 2(47)]
A transfer includes:
Sale, exchange, or relinquishment
Compulsory...
Section 54GA of the Income Tax Act provides an exemption on capital gains arising from the transfer of...
Section 30 to 35 covers the following expenses Allowed as Deduction while computing Profits and Gains...
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...