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Tax Tutorials

Income Tax Management (India)

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To keep a watch on high value transactions undertaken by the taxpayer, the Income-tax Law has framed the concept of statement of financial transaction or reportable account (previously called as ‘Annual Information Return (AIR)’.With the help of the statement the tax authorities will collect information on certain prescribed high value transactions undertaken by a person during the year.

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Prosecution For Offences Committed By The Taxpayer under the Income Tax Law
Apart from levy of penalty for various defaults by the taxpayer, the Income-tax Law also contains provisions for launching prosecution for offences committed by the taxpayer. In this part you can gain knowledge about offences in respect of which prosecutions can be launched under the Income-tax Law..

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Provisions Relating To ‘Tax Treatment Of Cash Credit’.
Any sum found credited in the books of the taxpayer, for which he offers no explanation about the nature and source thereof or the tax authorities are not satisfied by the explanation offered by the taxpayer, is termed as cash credit. In this part you can gain knowledge about various provisions relating to tax treatment of cash credit..

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Generally, income of previous year is taxed (i.e., assessable) in the immediately following assessment year. However, in following cases, income of previous year is taxed in the previous year itself :.

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As far as income-tax is concerned, the method of accounting followed by the assessee is relevant only for computing income charged to tax under the heads “Profits and gains of business or profession” and “Income from other sources”.
The method of accounting followed by the assessee has no relevance while computing income charged to tax under the heads “Salaries”, “House property” and “Capital gains” .


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Section 273AA empowers the Principal Commissioner or Commissioner to grant immunity from imposition of any penalty under the Income-tax Act in a case where the taxpayer has made an application for settlement under section 245C and the proceedings for settlement have been abated under section 245HA and penalty proceedings are initiated under the Income-tax Act....

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The chart highlights the tax incidence in case of different persons on the basis of their residential status :.

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Exemption under section 10(34) is granted to dividend received from an Indian company and not to a dividend received from a foreign company. Thus, dividend from a foreign company received by an Indian resident is taxable. In this part you can gain knowledge about tax treatment of dividend received from a foreign company:

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Tax Deducted At Source (TDS) Under Section 194 C And 194 I (Practical)
In this advance learning we will learn about various practical aspects of the provisions of TDS Undeer section 194C and Section 194 I...

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TDS On Rent U/s 194-I and 194-C
In this advance learning we will learn about various practical aspects of the provisions of TDS On Rent Undeer section 194C and Section 194 I...

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Practical Aspects Of The Provisions Of Section-44AA ( Maintenance of Books of Account)
In this advance learning we will learn about various practical aspects of the provisions of section 44AA...

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Provisions Relating To Maintenance Of Books Of Account As Given In Section-44AA
In this advance learning we will learn about the provisions relating to maintenance of books of account as given in section 44AA. These provisions are as follows:.

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'Presumptive Taxation Scheme’ Of Section-44AD (Theory & Practical)
In this advance learning session we will learn various practical aspects of the provisions of section 44AD (Theory and Practical)..

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In this advance learning we will cover the provisions of the presumptive taxation scheme provided in section 44AE.
The scheme of section 44AE is designed to give relief to small assessees engaged in the business of goods carriage. The detailed provisions in this regard are as follows: .

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In order to get clarification on taxation of those transactions, a person can make an application to the Authority for Advance Rulings (‘AAR’). Provisions relating to advance ruling are provided in sections 245N to 245V. In this part, you can gain knowledge about various provisions relating to advance ruling..

   
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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)
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Refund Of Excess Tax Paid By The Taxpayer (Sections - 237 to 245 )
Presumptive Taxation Scheme of Section 44AD
Presumptive Taxation Scheme of Section 44ADA
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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)
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