Table of Contents
Related Posts:
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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…
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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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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…
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Exemptions
Available in Computation of Capital Gain Sec. Assessee to Whom
Allowed Conditions to be Satisfied Quantum of exemption 54 Individual / HUF I.
Transfer should be…
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“Income from
House Property” [Section 22 to 27] The annual value of property
consisting of any buildings or lands appurtenant thereto of which the
assessee is the owner…
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Introduction of
GST Law [Constitution (101st Amendment) Act, 2016] (A) Need for
constitutional amendment Existing Constitutional provisions, given above, had
given separate powers for the Centre and the States…
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[Section 30 to
37]- Expenses Allowed as a Deduction for computing Income under ‘Profit &
Gains of Business or Profession’ 1. [Section 30]-
Rent, Rates, Taxes, Repairs and Insurance for Buildings – for computing
Profit & Gains of Business or…
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Tax Treatment of
‘Allowances’ Income to be included in Gross Salary- for computing Salary Income Allowance
is a fixed monetary amount paid by the employer to the employee for meeting
some particular expenses, whether personal…
·
Location of
Supplier and Place of Supply of Goods and Services under GST Law The
basic principle of GST is that it should effectively lax the consumption of
such supplies at the destination thereof…
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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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Salient Features
of GST & IGST (A) Features of Dual Model of GST The
significant features of Dual GST in India, are as under: The GST…
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Interest Payable
By / To Assessee under Income Tax Act 1. [Section
234A]- Interest Payable by the Assessee for default in furnishing Return of
Income U/s 139(1) The assessee is…
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First Appeal
Filed by the Assessee The first appeal against the order of
Assessing Officer shall lie to the Commissioner (Appeals) and it can be filed…
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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…
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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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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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Supply of Goods
or/and Services under CGST/SGST Act. In order to constitute a
'supply', the following elements are required to be satisfied, i.e.— (i)
the activity involves…
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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)
…
·
[Section 193]-
TDS from Interest on Securities Under Section 2(28B), Interest
on Securities means.— (i) interest
on any security of the Central Government or a State…
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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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Service of Notice under the Income-tax Act [Sections 282
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[Section 281B]- Provisional attachment of Property to protect
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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 /