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
(1) Conditions to be satisfied for applicability of Section 112A [Section 112A(1)]:
Notwithstanding...
The “Full Value of Consideration” (FVC) is the total amount received or receivable when a...
Section 10(26) of the Income Tax Act provides special provisions for the income of a member of a Scheduled...
Where any person receives at any time during any previous year any money or other assets under an insurance...
PARTICULARS
AMOUNT (₹)
REMARKS
Gross Receipts (Sales/Fees)
XXX
Total business income
Less: Cost...
The treatment of vouchers under GST has been a subject of debate due to their unique nature. This article...
The Income Tax Appellate Tribunal (ITAT) derives its adjudicatory powers from Section 254 of the Income...
Exemption of amount received by an individual as Loan under Reverse Mortgage Scheme [Section 10(43)]
Reverse mortgage is a financial scheme that allows senior citizens to convert their home equity into...
Section 54 of the Income Tax Act, 1961 provides tax exemption on long-term capital gains (LTCG) arising...
1. Scope of Total Income / Incidence of Tax [Section 5]
Total income of an assessee cannot be computed...
Section 194DA of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payouts from life...
Section 194H of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payments made as commission...
Section 10(30) of the Income Tax Act provides a tax exemption for subsidies received by tea growers and...
Here’s a detailed breakdown of fully taxable allowances for the computation of salary income in India,...
Applicable to: *Resident Individuals with 40%+ Disability*
This section provides fixed tax deductions to...
An individual may either be a:
(a) Resident in India; or
(b) Deemed to be Resident In India...
Section 115BAA of the Income Tax Act, 1961 provides a concessional tax rate of 22% (plus surcharge &...
(A) Valuation of Perquisites: Sweeper, Gardener, Watchman, or Personal Attendant [Rule 3(3)]
Under Rule...
In the realm of tax enforcement, the power of inspection, search, and seizure plays a pivotal role in...
(A) In the case of every Individual or Hindu Undivided Family (HUF)
(A1) If the individual or HUF...
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...