Home · Courses · Undergraduate Courses · · Part-2 · Compulsory Courses · Paper Income Tax & Auditing; PDF; Lesson 1 to 7 in Hindi (Auditing) . download आयकर कानून एवं लेखा by Dr. R. K. Jain PDF Online. Less See More. Income Tax Law & Accounts Hindi Language by Dr. R. K. Jain. Free Snapshot. Hello friends, IT में सहायता प्रदान करने के लिए “CA Mukta jain and CA Rakesh jain” द्वारा Income tax notes in Hindi तैयार किए गए हैं। Income.

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31, Income Tax Act, , -, Download ( KB) application/pdf than enforcement work mentioned under the Department of Revenue (Rajaswa Vibhag). Income Tax Basic Concepts Short notes (A.Y. ) #pdf. Submitted By: Sunil Ahmad on 27 November Scorecard: My Other Files. Downloaded. (b) Income Tax (Exemption of Tax on Interest on Savings Bonds) All references in the Income Tax Act to the Hotel Development Act, (formerly Ch. ) have.

This form is for those who are come under the category of Hindu Undivided Families and have income from any sources other than Profits gained from business and profession.

This form is applicable to Hindu Undivided Families and individuals who are professionals or proprietors. This form is applicable to companies that claim no exemptions as per section 11 of the Income tax Act. This form is applicable to the persons who are required to file returns as per Sections 4A , 4D , 4C , 4B. Filing ITR Income Tax Return makes it easier for financial institutions to check the financial credibility of an individual assesse. If a taxpayer applies for a loan, it helps in the easy processing of bank loans.

Some losses such as business loss, speculation loss, a capital loss can be carried forward only when ITR is filed before the due date.

You simply need to submit a photocopy of your ITR assessment along with actual payment receipt of latest income tax return. Or else, you can also submit the income tax statement attested by IT authorities.

If there is an accidental death, the insurance company will need a proof of income to the process the claim. In case ITR is missing, it can significantly lower the amount of claim as ITR is the only document that court accepts for such cases. Filing ITR also comes handy while applying for government tenders, panel registration, etc. You need to submit your ITRs of last 5 to 7 years which will be checked by the tender scrutiny committee. If you are planning to download a high life cover of Rs.

It helps the insurance providers to verify your annual income. Tax calculation is done on the annual income of a person and the annual financial cycle under income tax law starts from 1 st April to 31 st of March of the next calendar year.

Under this section, deduction is available to individuals and HUF. Tax exemptions under this section are on payment made on insurance companies and LIC that are under approved pension plans. The pension policy must be taken from the individual himself and must be up to Rs 1, 50, out of taxable income.

Tax exemption under this section is for contribution by the assessee and the employer to the new pension scheme. The premiums paid on the health insurance comes under this section of income tax deduction. Health insurance policies generally provide coverage to the insured person, spouse, and dependent children.

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If you pay premiums for your health insurance, then you can save your taxes up to Rs 15, to Rs 20, In the case of Hindu Undivided Family, the general deduction is up to Rs 15, and additional deduction is Rs 5, Under this section, the tax deduction is done on medical expenses that arise from the treatment of any disease or illness specified in the rule 11DD. The tax benefit is applicable for the taxpayer, for the family member or any member of HUF.

The interest paid on education loan in the country comes under this section of the tax deduction.

The first time home owners come under this section of tax benefit. Those people whose first home download value is less than Rs 40 lakh and the loan takes for which is Rs 25 lakh or less are applicable for the tax deduction.

Income Tax Basic Concepts Short notes ( A.Y.2018-19)

Under this section, the tax deduction is applicable on the income earned by way of royalties and patents. For the patent registered under the patent act, up to the amount of Rs 3, 00, income tax can be saved.

Tax deductions are applicable on interest earned in the post office and co-operatives society and saving bank accounts. This section of income tax deduction is applicable for disable people. To avail the tax benefit under this section, one needs to show their disability certificate. Depending on the severity of disability up to Rs 1,00, can be non-taxed.

The interest paid on a housing loan comes under this section of tax exemption.


In addition to the deduction under section 80C, 80CCF, and 80D up to Rs 2,00, per year can be claimed as the deduction. The income tax laws in India are established under the provisions of Income Tax Act, Hence, it becomes necessary to plan your taxes in advance for each financial year. The Income Tax Act comes with a wide range of sections. Each of section caters to a different aspect of taxation rules in India.

This particular chapter deals with income tax charges, dividend income, the scope of total income, income earned through working abroad, etc.

The chapter deals with sections about income earned from other sources such as income from capital gains, house property, businesses, etc. The chapter deals with the transfer of income wherein no actual transfer of assets is involved.

It also includes revocable transfer. This chapter is basically about the deductions applicable on income generated from certain sources and certain payments. Chapter 8 of Income tax Act deals with the rebates and how much share a member would get in a body or an association. This chapter deals with the double taxation relief in detail which helps the taxpayers to get a rebate on the income tax paid.

This chapter deals with the special scenarios where income tax payment is avoided. This type of scenarios normally includes agreements with foreign countries. The chapter deals with the information about the particular countries that follow these kinds of agreements. This chapter deals with different types of general anti-avoidance income tax rules for the income taxpayers.

It includes short-term capital gains, capital gains, provident fund, etc. There are various cases that belong to this section that yield tax-liable incomes such as foreign currency units, dividends, royalty, dividends, etc.

This particular chapter deals with special tax provisions that are designed for particular companies. This chapter deals with the taxation process to convert a foreign organization into an Indian subsidiary. This chapter deals with the taxation process for the profits earned by domestic companies. It also deals with the interest payable in case of non-payment of taxes by the companies or if the company is a defaulter.

Chapter 12E of the Income Tax Act deals with the rules meant for distributed income of unit holders. This chapter deals with the taxes on income received from venture capital funds and from venture capital companies. This chapter deals with special provisions designed for the shipping companies and the involved taxation procedures. Basically, this chapter deals with all the return filing formalities which include obtaining PAN, e-filing of ITR, accounting methods.

It also includes other amendments, intimation of any loss and related cases and rectification of mistakes.

Chapter 14A deals with the special provisions that help to avoid repetitive appeals. It includes the cases that are already pending in the Supreme Court or High Court. This chapter deals with the liabilities for different cases which include general as well as special provisions. It also deals with the provisions meant for tax recovery from NRIs, private companies, etc. Chapter 16 of the Income Tax Act deals with the firms and their taxation and assessment process.

It also deals with constitution changes, succession, and their dissolution processes.

Interim Budget 2019 Income Tax Calculator: Here is what you got to pay

It also gives an insight of the interest charged on late tax payments or recovery cases. This chapter deals with the income tax relief given to the companies for the dividends they pay to their shareholders.

Chapter 18 also deals with the tax relief provided to the companies in lieu of their charitable work that they support through their foundation wings.

Chapter 19 deals with the tax refunds in case any extra tax is paid to the Income Tax department. It includes Section to Section Chapter 19A deals with the settlement of cases and includes sections A to L. Different aspects of settlements such as application, abatement of proceeding, procedure, and recovery are covered under it.

Basics of Income Tax for Beginners

This chapter deals with all advance rulings. It also deals with sections from N to V. The chapter 19B includes application for power of authority, advance ruling and procedure.

The chapter deals with the appeals forwarded to the commissioner and deputy commissioner. Other than this, it also deals with appeals made to the Supreme Court, High Court and other general revision aspects by commissioner. This chapter basically deals with the acquisition of immovable property in certain cases to counteract tax evasion.

All acquisition aspects from jurisdiction to every other related aspect are covered under this chapter. The Chapter 20B deals with different payment modes, tax evasion correction are required. It also deals with loan accepting and deposits and its corresponding modes.

This chapter deals with downloading of immovable property. However, the properties that are made by the central government for transfer cases.

Few aspects covered under the chapter are appropriate authority, restrictions on the property, vesting of property and rectification of mistakes. It includes sections to of the Income Tax Act.

It deals with different penalties applicable to taxpayers in different cases. These are the amounts Income Tax Department allows you to reduce your Income, bringing down your tax liability. Given below are some of the widely-used investment vehicles under this section. Money deposited in a PPF account compounds, as you deposit more money in the subsequent financial years to claim deductions. PPF is a traditional and safe saving avenue to park your hard earned money. A PPF account can be easily opened with a bank.

Tax-saving FD Fixed deposits assure capital protection as well as a sizable interest income for investors.

To get tax benefits under 80C, you need to stay invested for at least 5 years. It is safe, but the Interest Income from it is taxable. Another perk of ELSS is that it has the lowest lock-in period of 3 years. The payer has to deduct an amount of tax based on the rules prescribed by the income tax department. For instance, An employer will estimate the total annual income of an employee and deduct tax on his Income if his Taxable Income exceeds INR 2,50,Additionally, the following entities that generate income are liable to pay direct taxes:.

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Any amount that you pay towards life insurance premium for yourself, your spouse or your children can also be included in. Earlier, the deduction for a senior citizen and a super senior citizen were Rs 60, and Rs 80, or the amount actually paid, whichever is less respectively. The diseases have been specified in Rule 11DD. Retrieved 16 May Get News Alerts from Taxmann.

An Acknowledgment Receipt can be obtained upon submission. These are the amounts Income Tax Department allows you to reduce your Income, bringing down your tax liability.

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