Table of Contents
Related Posts:
·
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)
…
·
‘Residential
Status’ under Income Tax Act. 1956 1. Residential
Status of an Individual [Section 6(1)] According to the residential status, the
assessee can either be: (i) Resident…
·
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…
·
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…
·
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…
·
[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…
·
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…
·
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…
·
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…
·
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…
·
[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…
·
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…
·
Taxability -
Income from Other Sources [Sections 56 to 59] 1.
Section wise Table – Income from Other Sources Sections Particulars 56 Income
from Other Sources 56(1) Chargeability 56(2) Specific…
·
Assessment of
‘Firm’ 1. Salient Features of the Assessment of a
Firm: (1) A firm
(including LLP) is treated as a separate tax…
·
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…
·
[Section 142]-
Enquiry by the Assessing Officer before Assessment 1. Service
of a Notice [Section 142(1)] of Income Tax Act 1961.: For the purpose of making
an assessment, the…
·
‘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)…
·
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…
·
[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…
·
[Section 115JB
(2)]- Statement of Profit and Loss of the Company to be prepared as per
provisions of the Companies Act. with Computation of… Every
assessee,— (a) being a company
shall, for the purposes of this section, prepare its statement of profit and…
You may also like :
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 /