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Related Posts:
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[Rule 12]- Form
and Manner of Furnishing Return of Income As per rule 12(1),
The return of income required to be furnished under section 139(I) or 139(3) or
139(4A) or…
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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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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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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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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 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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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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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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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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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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[Section 80-IA]-
Deduction in respect of Profits and Gains from Undertakings engaged in
Infrastructure Development The deduction under this section is
available to an assessee whose Gross Total Income includes any profits and
gains derived…
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Assessment of
‘Firm’ 1. Salient Features of the Assessment of a
Firm: (1) A firm
(including LLP) is treated as a separate tax…
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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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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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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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[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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Deduction Under
Section 80A to 80U (Chapter VIA) from Gross Total Income The
aggregate of income computed under each head, after giving effect to the
provisions for clubbing of income and set…
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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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[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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Permanent
Account Number (PAN) [Section 139A and Rule 114] 1.
[Section 139A (1)]- Who has to apply for PAN?: Every person who has not been
allotted a permanent account…
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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 /