Category Archives: Income Tax

Latest amendments, updates and notes related to the Income Tax 1961 and its Rule, Circulars and Notifications.

Income Tax Due Dates April 2017 | 12 Month Tax Calendar 2017

Tax Due Date

Last date of various dues under Income Tax Act, 1961 for the year 2017. ITR, 44AB Audit Report, Tax deducted/collected, TDS/TCS certificates.

Union Budget 2017-18 | Download Finance Bill 2017

Finance Bill 2017

Download Union Budget 2017 – Finance Bill 2017 in PDF. Tax proposals for Salaried tax payers. Amendments in various sections of finance Act, 2016.

Post Office Time Deposit Account | Interest Rates 2017

Post Office Deposit Account

Earn highest interest rate with Post Office Saving Schemes. Open 5-year Post Office Time Deposit Account to claim 80C Deduction benefit upto INR 150000.

80C Deductions for Tax Panning | LIC, PF, Equity Share, NSC

Section 80C Deduction

Claim ₹1.5 Lakh deduction under section 80C of Income-tax Act, 1961-2016 for AY 2017-18 in respect of certain payments made in previous year 2016-17.

List of Tax Deductions for computing Taxable Income of FY 2016-17

Chapter VIA Deductions

Chapter VIA deductions specified in sections 80C to 80U of Income-tax Act to be allowed while computing taxable income for Financial years 2016-17 onwards.

Section 44 of Income-tax Act 1961-2017 – Insurance business

Detail analysis of the provisions of Section 44 (Insurance business) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 43D of Income-tax Act 1961-2017 – Income of public financial institutions, public companies, etc.

Detail analysis of the provisions of Section 43D (Special provision in case of income of public financial institutions, public companies, etc.) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 43CA of Income-tax Act 1961-2017 – Full value of consideration for transfer of assets other than capital assets

Detail analysis of the provisions of Section 43CA (Special provision for full value of consideration for transfer of assets other than capital assets in certain cases) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 43C of Income-tax Act 1961-2017 – Special provision for computation of cost of acquisition of certain assets

Detail analysis of the provisions of Section 43C (Special provision for computation of cost of acquisition of certain assets) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 43B of Income-tax Act 1961-2017 – Certain deductions to be only on actual payment

Detail analysis of the provisions of Section 43B (Certain deductions to be only on actual payment) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 43A of Income-tax Act 1961-2017 – Special provisions consequential to changes in rate of exchange of currency

Detail analysis of the provisions of Section 43A (Special provisions consequential to changes in rate of exchange of currency) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 43 of Income-tax Act 1961-2017 – Definitions of terms relevant to business or profession

Detail analysis of the provisions of Section 43 (Definitions of certain terms relevant to income from profits and gains of business or profession) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 42 of Income-tax Act 1961-2017 – Deductions in the case of business for prospecting for mineral oil

Detail analysis of the provisions of Section 42 (Special provision for deductions in the case of business for prospecting, etc., for mineral oil) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 41 of Income-tax Act 1961-2017 – Profits chargeable to tax

Detail analysis of the provisions of Section 41 (Profits chargeable to tax) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 40A of Income-tax Act 1961-2017 – Expenses or payments not deductible in certain circumstances

Detail analysis of the provisions of Section 40A (Expenses or payments not deductible in certain circumstances) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 40 of Income-tax Act 1961-2017 – Amounts not deductible

Detail analysis of the provisions of Section 40 (Amounts not deductible) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 38 of Income-tax Act 1961-2017 – Building, etc., partly used for business, etc., or not exclusively so used

Detail analysis of the provisions of Section 38 (Building, etc., partly used for business, etc., or not exclusively so used) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 37 of Income-tax Act 1961-2017 – Deduction Allowed Generally for Business Expenditure

Detail analysis of the provisions of Section 37 (General) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 36 of Income-tax Act 1961-2017 – Other deductions

Detail analysis of the provisions of Section 36 (Other deductions) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 35E of Income-tax Act 1961-2017 – Deduction for expenditure on prospecting, etc., for certain minerals

Detail analysis of the provisions of Section 35E (Deduction for expenditure on prospecting, etc., for certain minerals) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 35DDA of Income-tax Act 1961-2017 – Amortisation of expenditure incurred under voluntary retirement scheme

Detail analysis of the provisions of Section 35DDA (Amortisation of expenditure incurred under voluntary retirement scheme) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 35DD of Income-tax Act 1961-2017 – Amortisation of expenditure in case of amalgamation or demerger

Detail analysis of the provisions of Section 35DD (Amortisation of expenditure in case of amalgamation or demerger) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 35D of Income-tax Act 1961-2017 – Amortisation of certain preliminary expenses

Detail analysis of the provisions of Section 35D (Amortisation of certain preliminary expenses) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 35CCD of Income-tax Act 1961-2017 – Expenditure on skill development project

Detail analysis of the provisions of Section 35CCD (Expenditure on skill development project) of Income-tax Act 1961 as amended by latest Finance Act 2017.

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