Table of Contents:
o
If
Foreign Company is a Member of AOP :
·
Case 2: Assessment of AOP or BOI Where Share
of Members are Known or Determinate
o
(b) Where None of the Members has Total Income
Exceeding Maximum Exemption Limit.
Related Posts…
·
[Section 64]-
Clubbing of Income of an Individual with income of Spouse, Minor Child, etc. 1.
[Section 64(1)(ii)]- Remuneration of Spouse from a Concern in which the
Other Spouse has Substantial Interest: In computing…
·
Accounts and
Records under GST [Section 35 of the CGST Act] Accounts and
other records play a very important role in GST Regime due to following
reasons: (i) GST is…
·
Investment
Planning for Tax Savings 1. Investment in Sukanya
Samriddhi Yojana (SSY) The Sukanya Samriddhi Yojana interest rate for January
to March 2020 (Q4, FY…
·
Input Tax Credit
or ITC under GST Under the GST regime. the Centre will give
input tax credit for Central GST/IGST and the States will give input…
·
Computation of
Capital Gains in different Cases 1. Computation of
‘Capital Gain’ in case of ‘Zero Coupon Bonds’ The profits arising on the
transfer of such zero…
·
Capital Gains
under Income Tax Act. 1961 - LTCG & STCG 1.
Basis of Charge – Capital Gains [Section 45(1)] Any profits or gains arising
from the transfer of a capital…
·
Agricultural
Income & Its Tax Treatment [Section 2(1A) and 10(1)] Section
10(1) of the Income-tax Act, 1961 exempts agricultural income from income-tax.
Agricultural income including the following: (i)
any…
·
Tax Treatment of
‘Retirement Benefits’ Income to be included in Gross Salary - for computing
‘Salaries’ Income Retirement Benefits Incomes includes ….
Gratuity Pension Leave Encashment Retrenchment Compensation Compensation
received on Voluntary Retirement 1. Treatment of ‘Gratuity’…
·
Assessment of an
‘Individual’ An individual means a natural person i.e.
human being. Individual includes a male, female, minor child and a
lunatic or…
·
Exemption of
Capital Gains under Sections 54, 54B, 54D, 54EC, 54EE, 54F, 54G. 54GA and 54GB 1.
[Section 54]- Exemption of Capital Gain on Transfer of House Property used for
Residence Capital gain arising on the…
·
‘Perquisites’ as
per Section 17(2) of the Income Tax Act, 1961. - for computing Salary Income Section
17(2) of the Income-tax Act, 1961 gives an inclusive definition of
'perquisite'. As per this section 'perquisite' includes: (i)…
·
Income Tax Assessment
Procedure in details 1. Self-Assessment [Section
140A] before Submitting Return of Income Every person, before submitting a
return of income under: (i) …
·
Advance Payment
of Tax [Section 207-211, 218, & 219] Advance payment of tax
is another method of collection of tax by the Central Government in the form of
pre-paid…
·
Deemed Profits
chargeable to Tax as Business Income [Section 41 and 176(3A) & (4)] By
virtue of section 41, the following receipts are chargeable to tax as business
income notwithstanding that the business or…
·
Return of Income
[Section 139 to 140] 1. [Section 139(1)]-
Submission of Return of Income According to section 139(1), the following
persons are required to furnish return…
·
Capital Gains
under Income Tax Act. 1961 – LTCG & STCG Cost of
acquisition is the price which the Assessee has paid, or the amount which the
Assessee has incurred, for…
·
[Section 2(24)]
- ‘Income’ Under Income Tax Act.– Concept & Definition The
word 'Income' covers receipts in the shape of money or money's worth
which arise with certain regularity or expected…
·
Set Off or Carry
Forward and Set Off Of Losses under Income Tax Act Income-tax
is a composite tax on the total income of a person earned during a period of
one previous year. …
·
GST
Registration, Modification and Cancellation Procedure The
registration in GST is PAN based and State specific. Supplier has to register
in each of such State or…
·
Alternate
Minimum Tax (AMT) on all Persons other than Companies [Section 115JC to 115JF
Chapter XII-BA] AMT. which was hitherto applicable to LLP only.
has been made applicable to all assessees other than a company. (1)…
You May Also Like…
Revision by the Principal
Commissioner or Commissioner under Income Tax Act.
Appeals & Revisions, Direct Taxes Ready Reckoner, Tax Management /
[Section 285BA]-Obligation to Furnish Statement of
Financial Transaction or Reportable Account
Direct Taxes Ready Reckoner, Misc. Provisions, Tax Management /
Service of Notice under the Income-tax Act [Sections 282
to 284]
Direct Taxes Ready Reckoner, Misc. Provisions, Tax Management /
[Section 281B]- Provisional attachment of Property to
protect revenue in certain cases
Direct Taxes Ready Reckoner, Misc. Provisions, Tax Management /
Restriction on Cash Transactions [Section 269ST and
271DA]
Direct Taxes Ready Reckoner, Misc. Provisions, Tax Management /
[Section 269T]- Mode of repayment of certain Loans or
Deposits and Specified Advance Received
Direct Taxes Ready Reckoner, Misc. Provisions, Tax Management /
[Section 269SS]- Mode of taking or accepting certain
Loans, Deposits and Specified Sum
Direct Taxes Ready Reckoner, Misc. Provisions, Tax Management /
Appeals to Appellate Tribunal [Section 253(1) and (2)]
Appeals & Revisions, Direct Taxes Ready Reckoner, Tax Management /
First Appeal Filed by the Assessee
Appeals & Revisions, Direct Taxes Ready Reckoner, Tax Management /
[Section 273A]- Power to Reduce or Waive Penalty
Direct Taxes Ready Reckoner, Penalties, Tax Management /