Income Tax Act, 1961 is an act to levy, administrate, collect & recover Income-tax in India. It came into force from 1st April 1962. ... A person also has to keep track of his TDS deducted while calculating his final tax liability at the end of the year.
TAXATION SHORT IMPORTANT QUESTIONS
PERQUISITE
TOTAL INCOME
INCOME
ANNUAL VALUE OF HOUSE PROPERTY
VAT
NET WEALTH
DEBT OWED
AUTHORIZED UNDER M-FAT ACT 2002
AGRICULTURE INCOME
SALARY
ASSESSMENT YEAR
INCOME
RESIDENTIAL AND NON-RESIDENTIAL STATUS
ASSET
EXAMPLE THE NON RESIDENTIAL STATUS
DEFINE THE TERM BUDGET PREVIOUS YEAR, FINANCIAL YEAR AND ASSESSMENT YEAR
EXAMPLE THE CONCEPT OF TAXATION DIRECT SOURCE TDS
ADVANCE TAX
VALUATION DATE OF WEALTH TAX
ASSESSE
HEIRLOOM JEWELRY
COMPUTATION OF INCOME
DEEMED ASSETS UNDER WEALTH TAX ACT
ADVANCE PAYMENT OF TAX
BEST JUDGEMENT ASSESSMENT
CONCEPT OF TAX EVASION AND ORDNANCE PERMANENT ACCOUNT NUMBER
METHOD OF VALUATION OF GRATUITY
ACCOUNTING YEAR OR FINANCIAL YEAR
INTER STATE SALE OF A GOOD
PERSON AND ASSESSE
REVENUE RECEIPT AND CAPITAL RECEIPT
LONG TERM CAPITAL GAIN OR SHORT TERM CAPITAL GAIN
SET OFF OF LOSSES AND CARRY FORWARD OF LOSSES
DOUBLE TAXATION RELIEF
TAX RECOVERY OFFICER
TAX IDENTIFICATION NUMBER
WEALTH TAX AUTHORITY
TAXATION LONG IMPORTANT QUESTIONS
Historical development of taxation system in india
Clubbing of income under income tax act 1961
Assessment for kind of assessment
Function of income tax authorities
Any 8 income which do not form part of total income as a prescribed under the section 10 of income tax act
Section 5 under wealth tax act 1957
Power and function under the Maharashtra value added tax act 2002
Constitutional power of taxation
Various head of income tax income tax act 1957
Deduction allowable in computing the income from house property
Total income computed under the head of salary with deduction allowed their form
Deemed asset under section 4 of wealth tax act 1957
Best judgement assessment under section 144 of IT act
10 type of income under the section 10 of the IT act
Define salary and allowances any four taxable prerequisite
Permissible deduction under section 24
Annual letting value under section 23
