| Summary of Important sections of Income tax | |||
| Topic | Section | ||
| 1. Status | 9 | Income deemed to accrue or arise | |
| 2. Salary | 15 | Charging section | |
| 89(1) | Relief | ||
| 7 | Income deemed to be received | ||
| 17(2)(iii) | Specified employee | ||
| 17(1), 17(2), 17(3) | Definition of “Salary”, “Perquisite”, “Profits in lieu of salary” | ||
| 3. House property | 22 | Charging section | |
| 27 | Deemed owner | ||
| 24 | Deductions u/h house property | ||
| 23 | Annual value | ||
| 4. PGBP | 28 | Charging section | |
| 37 | General deduction | ||
| 36 | Specific deductions | ||
| 35 | Scientific research expenditure | ||
| 35D | Preliminary expenses | ||
| 35E | Prospecting of minerals | ||
| 80GGA | Deduction for non-businessmen for donation. | ||
| 80GGB - Co. | 80GGC- others | Deduction for donation to a political party | |
| 40(a) | Expenses not deductible | ||
| 40A(2) | Payment to specified persons | ||
| 40A(3) | Payment in cash | ||
| 43B | Deduction on payment basis | ||
| 44AD/AE/AF | Income on estimated basis | ||
| 44B/BBA/BB/BBB | Income of non-residents | ||
| 44AA | Maintenance of accounts | ||
| 44AB | Audit of accounts | ||
| 32 | Depreciation | ||
| 5. Capital Gains | 45(1) | Charging section | |
| 2(47) | Transfer | ||
| 47 | Transactions not regarded as Transfer | ||
| 111A | STCG on listed equity shares | ||
| 50B | slump sale | ||
| 45(2) | Conversion of capital asset | ||
| 45(5) | Compulsory acquisition | ||
| 45(1A) | Insurance claim on destruction | ||
| 50C | Full value of consideration | ||
| 55A | Reference to valuation officer | ||
| All Exemptions u/s 54 | |||
| 6. Other Sources | 56(2) | Specific incomes | |
| 2(22) | Deemed dividend | ||
| 10(15) | Interest exempt from tax | ||
| 7. Clubbing | Sec 64 (1) (iv) | Assets t/f to spouse | |
| 64(1A) | Income of minor child | ||
| 60 | Irrevocable t/f of assets | ||
| 61 | Revocable t/f of assets | ||
| 64(i) (ii) | Remuneration of spouse | ||
| 8. Deductions | 80C | Specific deductions | |
| 80CCC | Investment in pension fund | ||
| 80CCD | Contribution to Pension scheme of CG | ||
| 80D | Medical insurance premium | ||
| 80DD | Treatment of dependent handicapped | ||
| 80U | Treatment of handicapped | ||
| 80DDB | Expenditure on specified diseases | ||
| 80E | Interest on loan for higher education | ||
| 80G | Deductions for donations | ||
| 80GG | Deduction for payment of rent | ||
| 80-IA | Development of infrastructure | ||
| 80-IB | Development of SEZ | ||
| 80-IC | Manufacturing in specified areas | ||
| 80-ID | Operating hotels and convention Centre | ||
| 80-IE | Manufacturing of specified articles | ||
| 80JJA | Bio- degradable waste for generating power | ||
| 80QQB | Deduction of Income from copyright | ||
| 80RRB | Deduction of Income from patents | ||
| 88E | Rebate of STT | ||
| 9. Assessment procedure | 139(1) | Return of income | |
| 139(3) | Return of loss | ||
| 139(4) | Belated Return | ||
| 139(4A) /(4B)/ (4C)/ (4D) | Return of Charitable trust/ political parties/ exempted entities/ various institutions | ||
| 139(5) | Revised return | ||
| 139(9) | Defective Return | ||
| 139B | Tax Return Preparer | ||
| 139C | Dispensation from furnishing documents | ||
| 139D | Furnishing documents in electronic form | ||
| 140 | Signing of Return | ||
| 140A | Self Assessment | ||
| 142(1) | Notice to file return and accounts | ||
| 142(2A) to 142(2D) | Special Audit | ||
| 143(1) | Summary Assessment | ||
| 143(2) & (3) | Scrutiny Assessment | ||
| 144 | Best Judgement assessment | ||
| 147 | Income escaping assessment | ||
| 149(1) | Time limit for issue of notice | ||
| 153 | Time limit for Completion of assessment | ||
| 10. Appeal | 154 | Rectification of mistake | |
| 250 | Procedure in hearing appeal | ||
| 263 | Revision of orders prejudicial to revenue | ||
| 264 | Revision of orders prejudicial to assessee | ||
| 234B | Interest for non-payment | ||
| 11. Advance tax | 234C | Interest for deferment of tax | |
| 12. Income of charitable & religious trust | 11 | Incomes of charitable trust | |
| 12A | Registration of trust | ||
| 12AA | Procedure for registration | ||
| 13 | Where exemption is not available | ||
| 13A | Income of political parties | ||
| 13. Service tax | 64 | Extent, Commencement and application | |
| Rule 4 | Registration | ||
| Rule 6 | Procedure of payment of service tax | ||
| 68 | Who shall pay the service tax | ||
| 70 | Furnishing of returns | ||
| Rule 7C | Penalty for delay in furnishing return | ||
| Rule 7B | Revised return | ||
| 66 | Charge of Service tax | ||
| 67 | Valuation of services | ||
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