Share |

Assessments in 'Special Cases'[ Assessments in Special Cases' ]

 

1.         Tax liability on income on which no tax is payable [Section 110]

 

2.         Tax on accumulated balance of recognised provident fund [Section 111]

[A]       Tax On Capital Gains :

A1.      Short Term capital assets [Section 111A]

A2.      Long term capital gain [Section 112]

 

3.         Tax on dividends, royalty and technical service fee in case of foreign companies [Section 115A]

 

4.         Tax on income by way of income from royalty received under an agreement entered into on or after 1-6-2005 [Section 115A(ii)AA ]

 

5.         Tax on income by way of fees for technical servives [Section 115A(b)BB)]

 

6.         Amendment in Section 115A relating to tax on dividends etc.

 

7.         Tax on income from capital gain on sale of units purchased in foreign currency [Section 115AB]

 

8.         Tax on Capital Gain from sale of Bonds or GDRs purchased in foreign currency [Section 115AC]

 

9.         Tax on income of Global Depository Receipts purchased in foreign currency or capital gain on their transfer [Section 115ACA]

 

10.       Tax on income of Foreign Institutional Investors from securities or Capital gain on transfer of securities [Section 115AD]

 

11.       Tax on Gain from life insurance business [Section 115B]

 

12.       Tax on winnings from lotteries, crossword puzzles, races including horse races, card games and other games of any sort or gambling or betting [Section 115BB]

 

13.       Tax on Non-resident sportsmen or sports association [Section 115BBA]

 

14.       Tax on Non-Residents [Section 115C to 115-I ]

1.         Computation of total income of a non-resident [Section 115D ]

2.         Tax on investment income and long-term capital gains [Sect/on 115E ]

3.         No tax on capital gain on transfer of foreign exchange assets [Section 115F]

4.         Return of income not to be filed [Section 115G ]

5.         Continuance of benefit even after becoming Resident [Section 115H]

6.         Option to assessee [Section 115-I]

15.      Specials provision for payment of tax by certain companies [Section 115JB ]

 

16.       Special Provisions Relating To Tax On Distributed Profits [Section 115-O ]

            C1.      Tax on distributed profits of companies

C2.      Responsibility to deposit tax

C3.      Final payment

C4.      No deduction

C5.      Interest on non-payment of tax [Section 115P ]

C6.      Tax on distributed income of Mutual Funds [Section 115R]

1.     Tax liability on Income on which No tax is payable
[Section 110]

 

In case any income on which no tax is payable under this Act, is included in the total income of an assessee, out of the income-tax on total income, he shall be entitled to deduction of tax calculated at average rate, on such income. These incomes are

 

(a)       Share of income from a partnership firm which is assessed as A.O.P. under Income-tax Act 1961; or

 

(b)       Share of income from an association of persons provided the total income of firm assessed as A.O.P. or A.O.P. exceeds the exempted limit. (The detailed treatment of this point is given in chapter 2 of part III of this book).

 

2.     Tax on accumulated balance of recognised provident fund [Section 111]

 

In case the accumulated balance of R.P.F. of an employee is included in his total income because the provision of Rule 8 of Part A of the fourth schedule are not applicable, the Assessing Officer shall calculate the total of various sums of tax in accordance with the provisions of sub-rule (1) of rule (9) of 4th schedule. This section provides for adding the year-wise break up of balance in respective year’s income and then calculating the tax payable on such addition. Under rule 10 of 4th schedule the person responsible for making the payment of accumulated balance of RPF is required to deduct tax at source treating such balance as if it is income taxable under the head ‘Salarieg’.

 

[A]    TAX ON CAPITAL GAINS :

 

A1. Short Term capital assets [Section 111A]

 

(a)       Short term capital asset being equity shares in a company or units of equity oriented fund where transaction is covered under Securities Transaction Act

 

The tax on gain from such transaction shall be calculated in following manner

 

(i)         The rate of tax on gain from Short term capital asset being equity shares in a company or units of equity oriented fund where transaction is covered under Securities Transaction Act; shall be 15% of such gain;

(ii)        Such gain shall be reduced out of total income and balance income shall be deemed as total income on which the schedule of rates as applicable to an individual shall be applied.

(iii)       In case balance income which is deemed as total income is less than the exempted limit of Rs. 1,50,000 (Rs. 1,80,000 in case of a female and Rs. 2,25,000 in case of a senior citizen), then an amount equal to the difference between the exempted limit and balance deemed total income shall be reduced from gain on Short term capital asset being equity shares in a company or units of equity oriented fund where transaction is covered under Securities Transaction Act ; and balance gain on Short term capital asset being equity shares in a company or units of equity oriented fund where transaction is covered under Securities Transaction Act ; shall be assessed to tax at the rate of 10%.

(iv)       For allowing deductions u/s 8OCCC to 80U the total of all deductions cannot exceed gross total income as reduced by short Term capital gain referred to above.

(b)       Short term capital assets other than those referred to in (a) above.

The gain on any othger short term capital asset shall form part of total income and shall be subject to tax at the same rates which are applicable to an individual.

A2. Long term capital gain [Section 112]

(a)       Long term capital asset being equity shares in a company or units of equity oriented fund where transaction is covered under Securities Transaction Act :

Any income from transfer of Long-term capital asset being equity shares in a company or units of equity oriented fund where transaction is covered under Securities Transaction Act is fully exempted u/s 10(38).

(b)       Long term capital asset being listed securities or units covered under (a) above Long tern capital gain from such assets shall be subject to tax

(i)         @ 10% of such gain if such gain is computed without applying the provisions of section 48(2nd proviso)’ or

(ii)        @ 20% of such gain if such gain is computed after applying the provisions of section 48(2nd proviso); whichever is less.

(c)        Long term capital asset other than as mentioned at (a) and (b) above.

(i)         The long term capital gain shall be assessed to tax @ 20% of such gain for all assesses.

(ii)        Such gain shall be reduced out of total income and balance income shall be deemed as total income on which the schedule of rates as applicable to an individual shall be applied.

(iii)       In case balance income which is deemed as total income is less than the exempted limit of Rs. 1,50,000 (Rs. 1,80,000 in case of a female and Rs. 2,25,000 in case of a senior citizen), then an amount equal to difference between the exempted limit and balance deemed total income shall be reduced from gain on long term capital asset and balance gain on long term capital asset shall be assessed to tax at the rate of 20%.

(iv)       For allowing deductions u/s 8OCCC to 80U the total of all deductions cannot exceed gross total income as reduced by long term capital gain referred to above.

As per Taxation Laws (Amendment) Ordinance issued on 31-10-2005 the above provisions of section 112 are not applicable to or in relation to taxable banking transactions entered into on or before 1-6-2005.
 

3.     Tax on dividends, royalty and technical service fee in case of foreign companies [Section 115A]

(a)       In case dividends (other than those referred to in section 1150) are included in total income, tax is to be charged @ 20% of such dividend income.

(b)       In case of interest received from Government or an Indian concern on moneys borrowed or debts incurred by Government or the Indian concern in foreign currency, tax is to be charged at the rate of 20% of such interest included in total income.

(c)        In case of income by way of interest on units of Mutual Funds (as specified u/s 10(23D)} and such units are purchased with foreign currency, tax is to the charged @ 20% of such interest included in total income.

(d)       In case any royalty or fee is received for technical services provided to Government or an Indian concern under an agreement entered after 31-3-76 the tax is to be charged at the rates given below on such royalty or fee included in total income. The agreement with Indian concern is to be approved by the Central Government. In case of royalty which is for transfering all rights in respect of copyright in book to Indian concern or in respect of any computer software to a person resident in India however, the approval of Central Government is not necessary

Rates of Tax

(i)         If agreement was entered after 3 1-3-76 but before 1-6-97 rate of tax is—30% of such income.

(ii)        If agreement was entered on or after 1-6-97 rate of tax is—20% of such income.

(iii)       On balance total income—at scheduled rates.

(e)       Out of the total income of such foreign companies the incomes as given in (a) to (d) above shall be deducted and balance income, if any, shall be taxable at scheduled rates.

4.     Tax on income by way of income from royalty received under an agreement entered into on or after 1-6-2005 [Section 115A(ii)AA ]

The amount of income tax calculated on the income by way of royalty, if any, included in the total income, at the rate of ten per cent (10%) , if such royalty is received in pursuance of an agreement made on or after the 1st day of June, 2005

5.     Tax on income by way of fees for technical servives [Section 115A(b)BB)]

The amount of income tax calculated on the income by way of fees for technical services, if any, included in the total income, at the rate of ten per cent (10%) , if such fees for technical services are received in pursuance of an agreement made on or after the 1st day of June, 2005.

6.     Amendment in Section 115A relating to tax on dividends etc.

Where the approval of the Central Govt. is required the new provision is that if the agreement relates to a matter included in the industrual policy for the time being in force, the agreement should also be in accordance with this policy.

7.     Tax on income from capital gain on sale of units purchased in foreign currency [Section 115AB]

1.         Where the total income of an assessee being an overseas financial organisation (offshore fund) includes income received in respect of units purchased in foreign currency— the income tax shall be calculated at the rate of 10% of such income included in total income.

2.         Where the total income of an assessee being an offshore fund includes long term capital gain arising from the transfer of units purchased in foreign currency, the income-tax shall be calculated at the rate of 10% of such long-term capital gain included in total income.

 

3.         Out of total income of such offshore fund, the incomes given at (1) and (2) above shall be deducted and balance total income shall be taxable at scheduled rates.

 

4.         While calculating the incomes given at (I) and (2) above

 

(a)       If the total income of such offshore fund consists only of these incomes, no deduction u/s 28 t 44C, 48(2) or 57(i) or 57(iii) shall be allowed. The fund shall not be entitled to claim any deduction U/s 80;

 

(b)       If the total income of offshore fund consists of these incomes and other incomes as well, the gross total income shall be reduced by such incomes; and out of balance G.T.I. deductions u/s 80 shall be allowed.

 

8.     Tax on Capital Gain from sale of Bonds or GDRs purchased in foreign currency [Section 115AC]

 

In case total income of a non-resident includes :

 

(a)       any income by way of interest on bonds or dividends (other than those referred to in section 1150) of an Indian company issued in foreign currency and purchased in foreign currency (under a scheme notified in Official Gazette) or on bonds or shares of a public sector company, sold by Government (from 1-10-96)—tax will be levied on such income @ 10%.

 

(b)       any income by way of long term capital gain arising from the transfer of bonds or shares as referred above,—tax will be levied @ 10% of such long term capital gain.

 

(c)        the balance of total income shall be assessed to tax at scheduled rates.

 

(d)       In case of interest or long term capital gain on such bonds or shares, no deduction u/s 28 to 44C or clause (i) and (iii) of section 57 or u/s 80 shall be allowed. In case assessee has any other income, he shall be eligible for deductions u/s 80 only out of balance gross total income.

 

(e)       Sale of shares of bonds acquired under amalgamation or demerger [Section 1 15ACJ Where the assessee has acquired shares or bonds in an amalgamated or in a resulting company as a result of shares (issued in foreign currency) held by him in amalgamation or demerged company, the rule given at (a) above shall remain applicable.

 

9.     Tax on income of Global Depository Receipts purchased in foreign currency or capital gain on their transfer [Section 115ACA]

 

1.         This section is applicable only on individuals who are residents and are employees of a company which is engaged in information technology, software and information technology services,

 

2.         He should have invested in Global Depository Receipts of an Indian company under the employees’ stock option scheme [as notified by the Central Govt.]

 

3.         The dividend (other than those referred to in section 1150) on such Global Depository Receipts and long term capital gain shall be put to tax @ 10% each and balance total income at scheduled rates.

 

4.         No deduction shall be allowed out of incomes covered at (2) above. In case the Gross Total Income includes both, the income from Global Depository Receipts and income from any other head the deductions shall be allowed only out of other incomes.

 

5.         The provisions of Indexing u/s 48(2) shall not be applicable on these Global Depository Receipts.

 

10.   Tax on income of Foreign Institutional Investors from securities or Capital gain on transfer of securities [Section 115AD]

 

Tax will be levied on a Foreign Institutional Investor at following rates

 

(i)         If total income includes income (other than income by way of dividends referred to in section 1150) received in respect of securities other than units referred in sectipn 115 AB]—such income will be assessed at the rate of 20% on such interest;

(ii)        If total income includes short-term capital gain on such securities which are covered under section lilA ; tax will be levied at the rate of 15% on such short term capital gain;

(iii)       If total income includes long term capital gain on such securities, tax will be levied @ 10% on such long term capital gain; and

(iv)       On balance total income tax will be levied at prescribed rates.

The Foreign Institutional Investor shall not be allowed any deduction u/s 28 to 44 AC or u/s 57 (i) or (ii) of the Act out of income from interest on securities. For deductions u/s 80 gross total income shall be reduced by the incomes referred above.

11.   Tax on Gain from life insurance business [Section 115B]

In case the total income of an assessee includes any profits and gains from life insurance business, the income tax @ 12.5% of such profits and gains, shall be payable. The total income of the assessee is to be reduced by the profits & gains of life insurance business and balance is to be taxed at scheduled rates. –

12.   Tax on winnings from lotteries, crossword puzzles, races including horse races, card games and other games of any sort or gambling or betting [Section 115BB]

In case any of these incomes is included in total income of an assessee, tax will be calculated as under :

(i)         Income from any of these sources—30%.

(ii)        Balance income shall be deemed as his total income on which scheduled rates will be applicable.

13.   Tax on Non-resident sportsmen or sports association [Section 115BBA]

In case of an assessee who is not citizen of India and who is not resident in India, any of the following incomes is included in total income :

Any income received or receivable by such person by way of

(i)         participation in India in any game (except those covered u/s 115 BB) or sport; or

(ii)        advertisement; or

(iii)       contribution of articles relating to any game or sport in India in newspapers, magazines or journals; or

(iv)       any amount received or receivable by a non-resident sports association on institution as guarantee amount in relation to any game or sport in India—tax will be levied at the rate of 10% on such incomes and balance of total income shall be assessed at scheduled rates. No deduction of any expenditure is allowed out of these incomes.

In case such an assessee has only such income which is covered under point (i) to (iv), he is not required to file the return of income u/s 139(1) if tax has been deducted at source. [115 BBA(2)]
 

14.   Tax on Non-Residents [Section 115C to 115-I ]

1. Computation of total income of a non-resident [Section 115D ]

(i)         In case of a non-resident Indian assessee, no expenditure or allowance shall be allowed under any of the provisions of this Act.

(ii)        In case the gross total income consists only of investment income (other than the dividends referred to in section 1150) or income by way of long-term capital gain or both, no deduction u/s 80 shall be allowed.

(iii)       In case gross total income consists of incomes as given above in (1) and other incomes, the G.TJ. shall be reduced by such incomes which will be treated as per (ii) above and out of balance GTI deductions u/s 80 shall be allowed.

2. Tax on investment income and long-term capital gains [Sect/on 115E]

 

(i)  Any income from investments (other than the dividends
referred to in section 1150) or income from long term
capital gains on an asset other than specified assets the
rate of tax is

20%

(ii) Income from long term capital gains on specified assets
rate of tax on such LTCG is

10%

(iii) The total income shall be reduced by the incomes given at (i) and (ii) above and balance will be total income on which tax will be calculated at scheduled rates

 

3. No tax on capital gain on transfer of foreign exchange assets [Section 115F]

In case total income of Non-resident Indian includes long-term capital gain arising from transfer of a foreign exchange asset and such person has invested some amount in specified asset, or any savings certificates as referred in section l0(4B) within 6 months from transfer, proportionate capital gain to be calculated as under shall be fully exempted

(a)       in case whole of net consideration is invested, whole of capital gain shall be exempted; and

(b)       in case a part of the net consideration is invested, the exemption shall be—

Exempted C. Gain = LTCG x Amount invested / Net consideration

Net consideration means the full value of consideration reduced by any expenditure incurred on transfer.

‘Specified asset’ as defined u/s 115C includes :

(i)        shares of Indian company;

(ii)        debentures issued by an Indian public limited company;

(iii)       deposits with Indian public limited company;

(iv)       Securities issued by Central Govt. and so notified;

(v)        any other asset so notified by the Central Government.

In case NRI claims exemption under this section by investing in specified assets or savings certificates, such new asset cannot be transferred or converted into money within a period of three years. The exemptiàn claimed earlier shall be deemed as income under the head ‘capital gain’ as L.T. capital gain of the previous year in which new asset is transferred or converted into money.

4. Return of income not to be filed [Section 115G ]

The non-resident Indian who has income from investments or long-term capital gain or both is not required to file a return of income u/s 139(1) if tax at source (if required) has been deducted.

5. Continuance of benefit even after becoming Resident [Section 115H]

The non-resident Indians have been given an option of being governed by these provisions even after becoming resident if they give a declaration to the Assessing Officer along with return u/s 139(1). He will be governed by these provisions in case of income from investments till the investments are converted into money or are transferred.

6. Option to assessee [Section 115-I]

In case the non-resident Indian gives a declaration in writing to the Assessing Officer alongwith return u/s 139(1) that the provisions of section 115D to 115H may not be applied to him, he will be governed by other provisions of this Act.

15.   Specials provision for payment of tax by certain companies [Section 115JB ]

1.         In case of an assessee, being a company, the income tax, payable on the total income as computed under this Act in respect of any previous year relevant to the assessment year commencing on or after the 1St day of April, 2007, is less than 10% of its book profit, the tax payable for the relevant previous shall be deemed to be 10% of such book profit.

 

2.         Every assessee, being a company, shall, for the purposes of this section, prepare its profit and loss account for th

e relevant previous year in accordance with the provisions of Parts II and III of Schedule VII to the Companies Act, 1956

While preparing the annual accounts including profit and loss account

 

(i)         the accounting policies;

 

(ii)        the accounting standards followed for preparing such accounts including profit and loss account;

 

(iii)       the method and rates adopted for calculating the depreciation, shall be the same as have been adopted for the purpose of preparing such accounts including profit and loss account and laid before the company at its annual general meting in accordance with the provisions of section 210 of the Companies Act. 1956

 

Where the company has adopted or adopts the financial year under the Companies Act, 1956, which is different from the previous year under this Act

  1.  the accounting policies;
  2.  the accounting standards adopted for preparing such accounts including profit and loss account;
  3.  the method and, rates adopted for calculating the depreciation, shall correspond to the accounting policies, accounting standards and the method and rates for calculating the depreciation with have been adopted for preparing such accounts including profit and loss account for such financial year or part of such financial year falling within the relevant previous year.

“Book Profit” means the net profit is as shown in the profit and loss account for relevant previous year prepared under sub-section (2),

as increased by -

(a) the amount of income-tax paid or payable, and the provision therefore; or

(b)       the amounts carried to any reserves except reserves specified u/s 33AC by whatever name called; or

(c)        the amount or amounts set aside to provisions made for meeting liabilities, other than ascertained liabilities; or

(d)       the amount by way of provision for losses of subsidiary companies; or

(e)       the amount or amounts of dividends paid or proposed; or

(f)         the amount or amounts of expenditure relatable to any income to which section 10 or (other than the provisions contained in clause (38) thereof or section 11 or section 12 apply).

(g)       the amount of depreciation.

(h)       the amount of deferred tax and the provision therefore.

and as reduced by—

  1.  the amount withdrawn from any reserves or provisions if any such amount is credited to the profit and loss account :

Where this section is applicable to an assessee in any previous year (including the relevant previous year), the amount withdrawn from reserves created or provisions made in a previous year relevant to the assessment year commencing on or after the 1st day of April, 2001 shall not be reduced from the book profit unless the book profit of such year has been increased by those reserves or provisions (out of which the said amount was withdrawn) ; or

 

(b)       the amount of income to which any of the provisions of section 10 or (other than the provisions contained in clause (38) thereof or section 11 or 12 apply, if any such amount is credited to the Profit and Loss Account).

(c)        the amount of loss brought forward or unabsorbed depreciation, whichever is less as per books of account.

(d)       For the purposes of this clause, the loss shall not include depreciation; or

(e)       the amount of profits eligible for deduction under section 8OHHC, computed under clause (a) or clause (b) or clause (c) of sub-section (3) or sub-section (3A), as the case may be, of that section, and subject to the conditions specified in that section; or

(f)        the amount of profits eligible for deduction under section 8OHH computed under subsection (3) or sub-section (3A), as the case me be, of that section, and subject to the conditions specified in that section; or

(g)       the amount of profited eligible for deduction under section 8OHHF computed under sub-section (3) of that section, and subject to the conditions specified in that section; or

(h)       the amount of profits of sick industrial company for the assessment year commencing on and from the assessment year relevant to the previous year in which the said company has become a sick industrial company under sub-section (I) of section 17 of the Sick Industrial Companies (Special Provisions) Act, 1985 I of 1986. and ending with the assessment year during which the empire net worth of such company becomes equal to or exceeds the accumulated losses.

“Net Worth” shall have the meaning to it in clause (ga) of sub-section (I) of section 3 of the Sick Industrial Companies (Special Provisions) Act, 1985.

3.         Nothing contained in (I) above shall affect the determination of the amounts in relation to the relevant previous year to be carried forward to the subsequent year or years under the provisions of sub-section (2) of section 32 or sub-section (3) of section 32A or clause (ii) of subsection (I) of

4.         Every company to which this section applies, shall furnish a report in the prescribed form from an accountant as defined in the Explanation below sub-section (2) of section 288, certifying that the book profit has been computed in accordance with the provisions of this section along with the return of income filed under sub-section (I) of section 139 or along with the return furnished in response to a notice under clause (i) of sub-section (I) of section 142.

5.         Save as otherwise providd in this section, all other provisions of this Act shall apply to every assessee, being a company, mentioned in this section.

16.           Special Provisions Relating To Tax On Distributed Profits [Section 115-O ]

C1.    Tax on distributed profits of companies

In addition to the income-tax chargeable in respect of the total income of a domestic company for any assessment year, any amount declared, distributed or paid by such company by way of dividends (whether interim or otherwise) on or after the 1St day of April, 2003, whether out of current or accumulated profits shall be charged to additional income-tax (hereafter referred to as tax on distributed profits) at the rate of 15% (fifteen per cent).

C2.    Responsibility to deposit tax

The principal officer of such domestic company shall be liable to deposit tax on distributed profits to the credit of Central Government within 14 days of the date of declaration of dividend.

C3. Final payment

The amount of tax on distributed profits deposited as per above shall be considered as final and no further credit shall be claimed by such domestic company or any other person.

C4. No deduction

The company or any shareholder of such company shall not have any right to claim any deduction for the amount of tax paid under this section.

C5. Interest on non-payment of tax [Section 115P ]

In case tax is not deposited in time, a simple interest @1% per month shall be levied for default of every one month or part thereof.

C6.Tax on distributed income of Mutual Funds [Section 115R]

Any amount of income distributed by the specified company or a Mutual Fund to its unit holders shall be chargeable to tax and such specified company or Mutual Fund shall be liable to pay additional income tax on such distributed income at the rate of

  1.  twelve and one-half per cent on income distributed to any person beirg an individual or a Hindu undivided family ; and

(ii)        twenty per cent on income distributed to any other person.

 

The above provision shall not apply in respect. of any income distributed

 

(a)       by the Administrator of the specified undertaking, to the unit holders ; or

 

(b)       to a unit holder of open-ended equity oriented funds in respect of any distribution made from such funds.

It will be responsibility of the person making payment of income to deposit the tax with the Central Govt. within 14 days of distribution or payment of income whichever is earlier.

 

The additional tax paid under this section shall not be allowed as expenditure.

 

In case tax is not deposited in time a simple interest @ 1% per month shall be levied for default of every one month or part thereof. [Section 115 S]

 

In case tax is not paid according to this section the Unit Trust of India and other Mutual Funds shall be treated as assessee in default.

 
 
 
 
 
Get Updated ....
Tax Tutorials
E-Payment Of Direct Taxes
Filing Of Return Of Income
Interest for Delay in Filing the Return of Income [Section 234 A]
Interest for default in Payment of Advance Tax [Section 234B]
Provisions Of 'Income-Tax Law' Useful For Non-Residents
MAT (Minimum Alternate Tax)
AMT ( Alternative Minimum Tax)
Tax On Long-Term Capital Gains (LTCG)
Tax On Short-Term Capital Gains (STCG)
Exemption[ Section-54] For Capital Gains Arising On Transfer Of Residential House Property
Tax Treatment Of Gifts Received By An Individual Or HUF
Set Off And Carry Forward Of Loss Under The Income-Tax Act
Interest For Delay In Payment of TDS/TCS And For Non-Payment Of Tax Demanded
Tax Deduction/Collection Account Number (TAN)
How to apply for PAN ?
Refund Of Excess Tax Paid By The Taxpayer (Sections - 237 to 245 )
Presumptive Taxation Scheme of Section 44AD
Presumptive Taxation Scheme of Section 44ADA
Presumptive Taxation Scheme of Section 44AE
Deduction in respect of Life Insurance Premium, PPF, NSC, etc. [Section 80C]
Deduction in respect of Medical Insurance Premium [Section 80D]
Tax Deducted at Source (TDS) from Interest, other than Interest on Securities (Section-194A)
Tax Deducted at Source (TDS) from Interest on Securities (Section 193)
Late Filing Fees And Penalty For Failure To Furnish/Delay In Furnishing The TDS/TCS Statements
LIBRARY @ Tax Management
TAX & INVESTMENT GUIDE FOR "NRI"- Non-Resident Indians !
GUIDE & FAQ @ TAX
GRAPHICAL PRESENTATION @ TAX
TIPS & TRICKS @ TAX
MANAGERIAL & FINANCIAL DECISIONS @ TAX
5 GOLDEN RULES OF TAX PLANNING
FAMILY TAX PLANNING
DEDUCTIONS FROM YOUR INCOME
EXEMPTED INCOMES
HUF - FORMATION, MANAGEMENT & TAX PLANNING
COMPUTATION OF GROSS TOAL INCOME
INCOME TAX @ GLANCE
MULTIPLE KNOWLEDGEBASE ON TAX
51 TIPS ON TAX PLANNING
APPEALS UNDER INCOME TAX
ASSESSMENTS
PENALTIES UNDER IT DEPATMENTS
TAX SAVING SCHEMES
TAX READY RECKONER
TAX RATES
PROSECUTIONS UNDER INCOME TAX DEPARTMENT
TAXATION SYSTEM IN INDIA
CHARITABLE & RELIGIOUS TRUST - TAXATION
PRESCRIBED FORMS WITH with Section / Rules
KNOWLEDGE BASE !
New Topics @ Tax KnowledgeBase...
 
 

Most Popular Topics :

Corporate Tax ( Taxation in Companies)
FAQ on TDS on Salaries
FAQ on Taxable Income
FAQ on Filing of Income Tax Return
Graphical Chat Presentation of Provision of Motor Car / Other Vehicles [Rule 3(2)(A)&(B)]
'Appeals' Under Income Tax Act. 1961.
'Assessments' Under Income Tax Act. 1961.
List of Exempted Incomes (Tax-Free) Under Section-10
Income Under the Head ' Business and Professions' [Section 28 to 44]
Income Under the Head ' Capital Gain'
Income Under the Head ' House Property '[Section- 22 - 25 ]
Income Under the Head "Salary"
[Section 15-17]
Income Tax on 'Partnership Firms'
PENALTIES Under Income Tax Act. 1961.
Tax Saving Schemes for Individual -Instant Guide
New Tax Rates For FY 2017-18 & AY 2018-19
"Exempted Incomes" under Income Tax Act.
Charitable & Religious Trust :Formation, Registration, & Taxation
Hindu Undivided Family [HUF] - Formation, Management and Taxation
 

Most Popular Links :

Clubing of Income Deduction U/s 80C
Allowances Us-17(3) Exemption-Salary
Tax Amendment-2015 Taxable Income
Clubing of Income Tax Deductions
HUF Deduction HUF Investment
Gift by HUF HUF Tax Planning Tips
Tax Saving Schemes Tax Planning Tips
Refund of Tax Fringe Benefit Tax-FBT
Return Filing Assessment / Scrutiny
Notice from I.T. Dept. Incomes Types @ TDS
Exemptions-Tax Returns “Summon” U/s 131
'Black Money' @ I.Tax Big Gifts To Be Taxed
'Appeals' under I.Tax Assessment @ I.Tax
Exempted Incomes Capital Gain
Business & Professions House Property
Salaries @ I.Tax Partnership Firm
'Penalty' under I.Tax Act. Tax Ready Reckoner
Charitable Trust Useful Links @ I.Tax
 
Guide & FAQ on Tax Knowledgebase @ Taxation Income Tax @ Glance HUF - Formation, Planning & Taxation
Charitable & Religious TRUST NRI (Tax Planning,Saving,Investemnt) Budget 2017-2018 GST (FAQ, Law, Act. Rules, Schedule, Enrollment)
FAQs - Income Tax India Tax Tutorials    

Disclaimer:
All efforts are made to keep the content of this site correct and up-to-date. But, this site does not make any claim regarding the information provided on its pages as correct and up-to-date. The contents of this site cannot be treated or interpreted as a statement of law. In case, any loss or damage is caused to any person due to his/her treating or interpreting the contents of this site or any part thereof as correct, complete and up-to-date statement of law out of ignorance or otherwise, this site will not be liable in any manner whatsoever for such loss or damage.

The visitors may click here to visit the web site of Income Tax Department for resolving their doubts or for clarifications