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INCOME TAX LAW OF INDIA  AFTERSCHO ☺ OL   –  DEVELOPING CHANGE MAKERS  CENTRE FOR SOCIAL ENTREPRENEURSHIP  PGPSE PROGRAMME –  World’ Most Comprehensive programme in social entrepreneurship & spiritual entrepreneurship OPEN FOR ALL FREE FOR ALL www.afterschoool.tk  AFTERSCHO☺OL's  MATERIAL FOR PGPSE PARTICIPANTS
INCOME TAX LAW OF INDIA Dr. T.K. Jain. AFTERSCHO ☺ OL   Centre for social entrepreneurship Bikaner  M: 9414430763 [email_address] www.afterschool.tk ,  www.afterschoool.tk www.afterschoool.tk  AFTERSCHO☺OL's  MATERIAL FOR PGPSE PARTICIPANTS
WHAT IS INCOME TAX?  ,[object Object]
WHO IS AN ASSESSEE?  ,[object Object]
WHO IS A PERSON?  ,[object Object]
RESIDENTIAL STATUS ,[object Object]
First test for residential status… ,[object Object]
2 nd  test for residential status… ,[object Object]
Points to remember… ,[object Object],[object Object]
Exceptions…. ,[object Object],[object Object]
WHAT IS HUF  ,[object Object]
Number of HUF  ,[object Object],[object Object]
Residential status of HUF  ,[object Object]
Firm’s Residential Status… ,[object Object]
Residential status of a company…. ,[object Object]
TAX ON COMPANY  ,[object Object]
INCOME TAX ON FOREIGN COMPANY  ,[object Object]
DIVIDEND DISTRIBUTION TAX ,[object Object]
Tax by MUTUAL FUNDS  ,[object Object]
Tax by money market mutual fund (MMMF)  ,[object Object],[object Object]
Minimum Alternate Tax… ,[object Object]
Rate of MAT  ,[object Object],[object Object]
TAX ON COOPERATIVES… ,[object Object],[object Object],[object Object]
Tax on LOCAL AUTHORITIES  ,[object Object]
TAX ON CAPITAL GAIN … ,[object Object],[object Object]
HRA – TAXABILITY … ,[object Object]
GRATUITY – TAXABILITY… ,[object Object]
EARNED LEAVE  - TAXABILITY ,[object Object]
LTC – taxability (10 (5))  ,[object Object]
VRS (voluntary retirement scheme )  ,[object Object]
Reimbursement of medical expenses ,[object Object]
Rent Free Accommodation ,[object Object],[object Object]
FURNISHED ACCOMMODATION (TV, FRIDGE ETC.)  ,[object Object]
MOVABLE ASSET TO EMPLOYEE ,[object Object],[object Object]
OTHER PERQUISITES.. ,[object Object],[object Object]
Valuation of CAR  ,[object Object]
GIFTS.. ,[object Object]
EXEMPTIONS.. ,[object Object],[object Object],[object Object]
GAS ETC.  ,[object Object]
Taxability of Indian Income…. ,[object Object]
Taxablility of foreign income… ,[object Object]
Setoff of INCOME .. ,[object Object]
HEADS… ,[object Object],[object Object],[object Object],[object Object],[object Object]
SURCHARGE … ,[object Object]
EDUCATION CESS  ,[object Object]
INCOME FROM HOUSE PROPERTY.. ,[object Object],[object Object]
DEDUCTIONS FROM HOUSE PROPERTY… ,[object Object]
Self Occupied Property ,[object Object],[object Object]
INCOME FROM BUSINESS ,[object Object]
PROFESSION  ,[object Object]
DEDUCTIONS ALLOWED FROM INCOME FROM BUSINESS / PROFESSION ,[object Object],[object Object],[object Object],[object Object],[object Object]
DEDUCTIONS ALLOWED FROM BUSINESS / PROFESSION….. ,[object Object],[object Object],[object Object],[object Object],[object Object]
DEDUCTIONS ALLOWED FROM BUSINESS / PROFESSION….. ,[object Object],[object Object],[object Object],[object Object]
DEDUCTIONS ALLOWED FROM BUSINESS / PROFESSION….. ,[object Object],[object Object]
BLOCK OF ASSETS ,[object Object]
Method of depreciation  ,[object Object]
If asset is used for less than 6 month ,[object Object]
Carry forward of depreciation…. ,[object Object]
Rate of depreciation – building  ,[object Object]
Rate of depreciation – furniture and car ,[object Object],[object Object]
Rates of depreciation… ,[object Object]
Rates of depreciation… ,[object Object],[object Object],[object Object],[object Object],[object Object]
Rates of depreciation… ,[object Object]
Is ownership necessary?  ,[object Object]
Taxes and dues allowed only if paid by due dates ,[object Object]
The limit of 20000 ,[object Object],[object Object]
Exceptions (cash payments permitted)  ,[object Object]
Different accounting for IT and or Accounting  ,[object Object]
Professionals to maintain books of accounts… ,[object Object]
System of accounting … ,[object Object]
Compulsory audit report… ,[object Object]
Capital Gain  ,[object Object],[object Object]
Cost of acquisition… ,[object Object]
Exemptions… ,[object Object]
Exemptions… ,[object Object]
Income Tax Deductions… ,[object Object]
Deductions… ,[object Object]
Income Tax Deductions… ,[object Object]
Income tax deductions ..,. ,[object Object]
CLUBBING OF INCOME  ,[object Object]
Transfer of asset… ,[object Object],[object Object]
Carry forward… ,[object Object]
Carry forward of depreciation… ,[object Object]
Speculative losses  ,[object Object]
PAN… ,[object Object]
Advance payment of tax ,[object Object]
Advance tax… ,[object Object]
Advance tax – company… ,[object Object],[object Object],[object Object],[object Object]
Advance tax – others.. ,[object Object],[object Object],[object Object]
Interest on non-payment of advance tax… ,[object Object]
Interest on non-payment of advance tax… ,[object Object]
Interest on non-submission of return… ,[object Object]
Liability of TDS  ,[object Object]
TDS regarding interest payments… ,[object Object]
Rates of TDS … (other than company)  ,[object Object]
TDS in case of company ,[object Object]
TDS regarding old age persons… ,[object Object],[object Object]
TDS regarding contracts/ advertising contracts… ,[object Object]
TDS rates for non-advertising contracts.. ,[object Object]
TDS for advertising contracts… ,[object Object]
TDS in respect of Brokerage… ,[object Object]
TDS regarding brokerage… ,[object Object]
TDS regarding professional services.. ,[object Object],[object Object]
TDS regarding rent.. ,[object Object],[object Object],[object Object]
TDS forms  ,[object Object]
Clearance certificates…. ,[object Object]
Income tax return numbers…. ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Income tax return numbers… ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Income Tax return numbers… ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Due dates for filing returns… ,[object Object]
Due dates for filing ITR ,[object Object]
Due dates of ITR  ,[object Object],[object Object]
Scrutiny … ,[object Object]
Arithmatic Mistakes in ITR  ,[object Object]
Interest to partners… ,[object Object]
About AFTERSCHO☺OL  ,[object Object],[object Object],[object Object],[object Object]
Branches of AFTERSCHO☺OL  ,[object Object],[object Object],[object Object]
Workshop on social entrepreneurship  ,[object Object],[object Object]
FREE ONLINE PROGRAMME  ,[object Object],[object Object],[object Object],[object Object],[object Object]
100% placement / entrepreneurship  ,[object Object],[object Object]
Pursue professional courses along with PGPSE  ,[object Object],[object Object]

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In Come Tax Law Of India

  • 1. INCOME TAX LAW OF INDIA AFTERSCHO ☺ OL – DEVELOPING CHANGE MAKERS CENTRE FOR SOCIAL ENTREPRENEURSHIP PGPSE PROGRAMME – World’ Most Comprehensive programme in social entrepreneurship & spiritual entrepreneurship OPEN FOR ALL FREE FOR ALL www.afterschoool.tk AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS
  • 2. INCOME TAX LAW OF INDIA Dr. T.K. Jain. AFTERSCHO ☺ OL Centre for social entrepreneurship Bikaner M: 9414430763 [email_address] www.afterschool.tk , www.afterschoool.tk www.afterschoool.tk AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS
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