Table of Contents
Related Posts:
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Tax on Total
Income of a Company 1. Rates of Income Tax of a
Company other than covered U/s 115BA A company is assessed like any other…
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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…
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[Section 132]-
Search and Seizure – Under Income Tax Act. 1. Authority
who can issue Order for Search and Seizure U/s 132: Search and seizure can be
authorised by— (a)…
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[Section 147]-
Income Escaping Assessment If the Assessing Officer has reason
to believe that any income, chargeable to tax, has escaped assessment for any
assessment…
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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…
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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…
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Incomes
Chargeable to Tax under Profits and Gains of Business or Profession 1.
[Section 28]- List of Incomes Chargeable to Income-Tax The following incomes
shall be chargeable to income-tax under the head…
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GST Return under
GST Act. A GST Return is a summarised statement furnished by
the tax payer to the tax administrators containing details of specified…
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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. …
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Assessment of
Charitable Trusts and Institutions 1. Exemption
Under Section 11 to 13 in case of Public Trusts for Charitable or Religious
Purposes The income derived…
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[Section 133A] -
‘Survey’ under Income Tax Act. ‘Survey’ contemplates a
comprehensive and extensive view of the business or charitable activities of an
assessee, subject to the limitations…
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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…
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Points for
Consideration towards Assessment of Public Trusts for Charitable and Religious
Purpose 1. Voluntary Contribution Received by the
Trust: Voluntary contribution can be of two types: (a) Voluntary
contribution with a…
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Taxation In
Companies - Company Taxation 1. [Section 6(3)]-
Definitions & Types of Companies with Residential Status (1).
Definition and Types of Companies 1. Company: As…
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[Section 270A]-
Penalty for Under-Reporting and Misreporting of Income (1)
[Section 270A (1)]-Penalty for Under-Reported income The Assessing Officer or
the Commissioner (Appeals) or the Principal Commissioner or Commissioner…
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‘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)…
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Deductions from
Gross Total Income for computing Taxable Income 1.
[Section 80CCC]- Deduction in respect of Contribution to certain Pension Fund
Essential Conditions for Claiming Deduction under this Section…
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[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…
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[Section 195]-
TDS on Payment to a Non-Resident 1. TDS on income
of Non-Resident: Any person responsible for paying to a non-resident, not being
a company, or to…
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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…
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Revision by the Principal
Commissioner or Commissioner under Income Tax Act.
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[Section 285BA]-Obligation to Furnish Statement of
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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 /