This Income Tax course will help you if you wish to work as an Income Tax Consultant for individuals or corporates, as well as if you practice as a Chartered Accountant. Income Tax (India) - Course Curriculum TOPIC - 1 1- SALARIES (INTRODUCTION) 2- SALARIES (SECTION-15) 3- SALARIES-...
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The IT department is headed by the Central Board of Direct Taxes (CBDT). The main responsibility of the IT department is to enforce the various direct tax laws, such as income tax laws. The Income Tax Act of 1961 has provisions to empower the Income Tax Department to levy income tax on...
SECTION 35(1)(ii) OF THE INCOME-TAX ACT, 1961A V VishalEmail thisPrint this
Note: The CBDT has revised the due date for filing income tax returns to furnish a report under Section 92E to December 15, 2024. Read Circular The due date for furnishing a Report from an Accountant by persons entering into an international transaction or specified domestic transaction under ...
Exemption under Section 10 (1) on agricultural income If you earn any type of agricultural income in a financial year, such an income would be exempted from tax. Agricultural income, as defined under Section 2 (1A) of the Income Tax Act, 1961, would include the following types of incomes...
Royalties are subject to the progressive tax rates of 3% to 45% applicable to comprehensive income but may be reduced under a tax treaty/arrangement. Income derived from the transfer of IP is considered capital gain and subject to the flat tax rate of 20%. ...
In a significant relief for taxpayers, the CBDT, through Circular No. 20/2024 dated Dec 30, 2024, has extended the due date for determining the payable amount under column (3) of the Table in section 90 of the Direct Tax Vivad Se Vishwas Scheme, 2024. ...
Include the rental income that you should have received during the tax year in your tax return; also declare the portion not received as bad debts in the expenses section or, Only declare the rental income that you received and exclude the rental income that you did not receive; do not cla...
Section 13(7.1) of the Income Tax Act requires, generally speaking, that a taxpayer reduce the capital cost of a fixed asset by the amount of government assistance received by the taxpayer with respect to the asset. In two recent ... Parsons,B Robert - 《Journal of Canadian Petroleum Techn...