Taxation Laws
Module 05 CAPITAL GAINS
Module 08 CUSTOMS DUTY
Module 06 INCOME FROM OTHER SOURCES
Module 07 GOODS AND SERVICES TAX
Module 03 INCOME FROM HOUSE PROPERTY
Chargeability
Income from House Property Income from house property is a significant category under income tax ...
Annual value and its determination
The determination of the annual value of a property, which is essential for computing the income ...
Deemed ownership
Deemed Ownership is a concept in tax law that applies to situations where a person is considered ...
Deductions from annual value
(i) There are two deductions from annual value. They are: 30% of NAV; and Interest on borrowed...
Computation of taxable income
Example Calculation Suppose the Gross Annual Value (GAV) of a property is ₹3,00,000. Municipal ta...
Module 04 PROFITS AND GAINS OF BUSINESS AND PROFESSION
Module 02 INCOME FROM SALARY
Chargeability
Salary meaning and Chargeability The Income Tax Act, 1961, under Sections 15-17, deals with the t...
Treatment of Various Allowances
Understanding Allowances Under Section 10 of the Income Tax Act, 1961 Allowances are a fixed amou...
Treatment of Perquisites
When your employer offers additional benefits or advantages alongside your basic salary or wage, ...
Treatment of Provident Fund
Provident Fund A Provident Fund scheme is designed to provide substantial financial benefits to e...
Profit in Lieu of salary
Section 17(3) - Profits in Lieu of Salary Section 17(3) of the Income Tax Act, 1961, deals with t...
Deductions from Gross Salary
Deductions from Gross Salary under Section 16 of the Income-tax Act, 1961 Overview Section 16 of ...
Retirement Benefits
Retirement and Taxation in India Retirement is a significant life event, symbolizing the transiti...
Computation of taxable salary
Computation of Taxable Salary The computation of taxable salary involves aggregating various comp...
Module 01 INTRODUCTION TO TAXATION
Legal enactments governing Income Tax in India
The Indian taxation system has evolved significantly over the centuries, shaped by various socio-...
Overview of basic Concepts
1. Assessee Definition: An "assessee" is any person who is liable to pay taxes or any other sum ...
Determination of residential status
Residential Status Under Income Tax Act Determining the residential status of an individual or en...
Kinds of income
Income can be derived from various sources, and the nature of this income can vary significantly....
Incidence of tax
The concept of tax incidence is a fundamental aspect of tax policy and economics, addressing a ke...
Tax free incomes
In India, taxpayers often seek ways to reduce their tax liability through various exemptions prov...
Capital and Revenue Expenditure
Capital Expenditure vs. Revenue Expenditure - Under the Income Tax Act Since the Income Tax Act d...