Table of Contents:
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(C) [Section
142A(6)]- Time period of Submitting Valuation Report
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Procedure for
Assessment of Search Cases-[Sections 153A, 153B and 153C] 1.
[Section 153A(1)(a)]- Notice for Filing Return: Where a search is initiated
under section 132 or books of account, or…
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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…
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[Section 190 to
206CA]- Deduction and Collection of Tax at Source (TDS & TCS) Tax
Deduction at Source (TDS) and Advance Payment [Section 190] Although regular
assessment in respect of any income is to…
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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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“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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Chapter VI of
Central Goods and Services (CGST) Rules, 2017 Chapter VI of
Central Goods and Services (CGST) Rules, 2017 has laid down various rules
relating to— (1) CGST…
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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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Tax Invoice ,
Credit and Debit Notes under Section 31, 33, 34 of CGST / SGST Act, 2017 GST
Acts give immense importance to invoice and named it as tax invoice because it
is one of the most…
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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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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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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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Penalties &
Prosecutions under Income Tax Act. 1. Penalties
under Income Tax Act. The various defaults in respect of which Penalty can be
imposed by the Income…
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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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[Section 201]-
Consequences of failure to Deduct TDS or pay TDS (1)
[Section 201(1)]- Assessee to be deemed as assessee in default Where any
person, including the principal officer of a…
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Limitation /
Compliance by Assessee , Assessing Authority, etc. Under Income Tax Act, 1961 1.
Advance Tax Advance Tax All assessees other than covered under
section 44AD or 44ADA Section Nature of Compliance by…
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Payment of GST
in GST Regime 1. Types of Payments to be made in
GST Regime For any intra-state supply For any interstate supply Taxes to…
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[Section 206CB]-
Processing of Statement of TCS Currently, there does not exist
any provision in the Act to enable processing of the TCS statement filed by
the…
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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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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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[Section 40]-
Amounts Not Deductible for computing Profits & Gains of Business or
Profession Notwithstanding anything contained in sections 30 to
38, the following amounts shall not be deducted in computing the income
chargeable…
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