Table of Contents
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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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[Sections 115R
to 115T]- Special Provisions relating to Tax on Distributed Income to Unit
Holders 1. [Section 115R (2)]- Tax on Income Distributed
to Unit Holders by the Specified Company or a Mutual Fund :…
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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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Services Exempt
from GST Notification No. 12/2017-Central Tax (Rate), dated
28.6.2017 has Exempted following Services from CGST/IGST respectively: SL. No.
Description of Services 1…
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Income Tax Rates
for Assessment Year 2021-22 1. In case of
Individual (A) For an individual (man or woman), resident in India who is of
the age…
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[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…
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[Section 44AD,
44ADA, 44AE]- Estimated or Presumptive Income method for Computing Business
Income Under To give relief to small taxpayers from the tedious
job of maintenance of books of account and from getting the…
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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’…
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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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Appeals &
Revisions under Income Tax Act. 1. First Appeal
Filed by the Assessee The first appeal against the order of Assessing Officer
shall lie to the…
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Assessment of
Limited Liability Partnership (LLP) 1. Taxation of Limited
Liability Partnership (LLP) The Limited Liability Partnership Act, 2008 has
come into effect in 2009. Taxation…
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Levy of Tax
where the Charitable Institution ceases to exist or converts into a Non-
Charitable Organization [Chapter XIIEB containing… 1.
[Section 115TD]- Tax on Accreted Income of Trust or Institution (i)
[Section 115TD (1)]- Accreted income of Trust…
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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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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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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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[Section 194A]-
Interest other than Interest on Securities Interest other than
Interest on Securities includes payments made in respect of: (i)
Inter-corporate deposits / loans,
(ii) …
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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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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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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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Penalties under
Income Tax Act. The various defaults in respect of which
Penalty can be imposed by the Income Tax Department are summaries in details.…
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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 /