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Shruti Sharma
Section 72A of Income Tax Act, 1961
#section72A #incometaxact #carryforward #accumulatedloss #depreciation Provisions relating to carry forward and set-off of accumulated...
Shruti Sharma
72. Carry forward and set off of business losses.
#section72 #incometaxact #carryforward #businesslosses Section 72(1) Where for any assessment year, the net result of the computation...
Shruti Sharma
71B. Carry forward and set off of loss from house property
#section71B #incometaxact #carryforward #loss #houseproperty A loss under the head house property can be set off against any income...
Shruti Sharma
71A. Transitional provisions for set off of loss under the head ―Income from house property.
#section71A #setoff #income #incometaxact #houseproperty SET OF LOSSES To set off losses is to compare the losses to the revenue or...
Shruti Sharma
54E. Capital gain on transfer of capital assets not to be charged in certain cases.
#section54E #incometaxact #capitalgain #capitalassets According to section 54EB of the Income Tax Act of 1961, capital gain on the...
Shruti Sharma
54D. Capital gain on compulsory acquisition of lands and buildings not to be charged in certain case
#section54D #capitalgain #incometaxact #acquisition The Income Tax Act of 1961, Section 54D, exempts from taxation capital gains that...
Sec 78 of Income Tax Act,1961: Carry forward and set off of losses in case of change in constitution
#Incometaxact #incometax #carryforward #setoff #sec78 #sec78incometaxact The Income Tax Law does acknowledge the necessity of offsetting...
Shruti Sharma
Section 54B of Income Tax Act
#section54B #incometaxact #capitalgain #agriculturalpurposes There are various sections in the Income Tax Act that permit taxpayers to...
Shruti Sharma
Section 54 of the Income Tax Act- Profit on sale of property used for residence.
#section54 #incometaxact #residentialproperty #capitalgains #eligibility The sale of a residential property is exempt from capital gains...
Shruti Sharma
Section 23 of the Income Tax Act, 1961- Annual value how determined.
#section23 #incometaxact #annualvalue According to section 23(1), the Annual Value of any property is the amount for which it might be...
Shruti Sharma
Section 22 of the Income Tax Act, 1961- Income from house property.
#section22 #incometaxact #houseproperty #income "Income from home property" refers to any income derived from a residential property,...
Praveer Shukla
Section 35CCB- Payment to Institutions for Carrying Programmes of Conserving Natural Resources
#section35CCB #incometaxact #taxationact #expenditure #paymenttoinstitutions #paymenttoassociations #conservationofnaturalresources...
Shruti Sharma
Section 17 of the Income Tax Act, 1961- Salary, perquisite and profits in lieu of salary
#section17 #incometaxact #salary #prequisite Three clauses are covered in this section. Clause 1: According to Section 17(1) of the...
Praveer Shukla
Section 35CCA- Payment to Associations and Institutions for Carrying out Rural Development Programme
#section35cca #incometaxact #taxationact #expenditure #paymentoassociations #institutions #ruraldevelopment #paymenttoinstitutions...
Shruti Sharma
Section 16 of Income Tax Act, 1961- Deductions from salaries.
#section16 #incometaxact #deductions #salaries The Income Tax Act of 1961, Section 16, allows for a deduction from income subject to tax...
Praveer Shukla
Section 35AD- Deduction in Respect of Expenditure on Specified Business
#section35AD #incometaxact #incometaxact1961 #deductionsintax #specificbusiness #expenditure Section 35AD of the Income Tax Act, 1961...
alkapranjal
SECTION 44BBA of the INCOME TAX ACT
#INCOMETAXACT #SECTION44BBA #PROFIT #GAIN #AIRCRAFTS #NONRESIDENTS Despite anything to the contrary stated in Sections 28 to 43A, a sum...
alkapranjal
SECTION 44BB of the INCOME TAX ACT
#INCOMETAXACT #SECTION44BB #SECTION28 #SECTION41 #SECTION43 #PROFITS #GAINS #EXPLORATION #MINERALOILS Despite anything to the contrary in...
alkapranjal
SECTION 44B of the INCOME TAX ACT
#INCOMETAXACT #SECTION44B #SECTION28 #SECTION43A #PROFIT #GAINS #SHIPPINGBUSINESS #NONRESIDENTS Despite anything to the contrary stated...
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