38_summary Of Imp Tax Sections

AJAY JAIN, 9811167879, 9899267879 Summary Summary of Important sections of Income tax Topic 1. Status 2. Salary

3.

House property

4. PGBP

5. Capital Gains

6.

Other Sources

7. Clubbing

8. Deductions

9 15 89(1) 7 17(2)(iii) 17(1), 17(2), 17(3) 22 27 24 23 28 37 36 35 35D 35E 80GGA 80GGB 80GGCCo. others 40(a) 40A(2) 40A(3) 43B 44AD/AE/AF 44B/BBA/BB/BBB 44AA 44AB 32 45(1) 2(47) 47 111A 50B 45(2) 45(5) 45(1A) 50C 55A 56(2) 2(22) 10(15) Sec 64 (1) (iv) 64(1A) 60 61 64(i) (ii) 80C 80CCC 80CCD 80D 80DD 80U 80DDB 80E

Section Income deemed to accrue or arise Charging section Relief Income deemed to be received Specified employee Definition of “Salary”, “Perquisite”, “Profits in lieu of salary” Charging section Deemed owner Deductions u/h house property Annual value Charging section General deduction Specific deductions Scientific research expenditure Preliminary expenses Prospecting of minerals Deduction for non-businessmen for donation. Deduction for donation to a political party Expenses not deductible Payment to specified persons Payment in cash Deduction on payment basis Income on estimated basis Income of non-residents Maintenance of accounts Audit of accounts Depreciation Charging section Transfer Transactions not regarded as Transfer STCG on listed equity shares slump sale Conversion of capital asset Compulsory acquisition Insurance claim on destruction Full value of consideration Reference to valuation officer All Exemptions u/s 54 Specific incomes Deemed dividend Interest exempt from tax Assets t/f to spouse Income of minor child Irrevocable t/f of assets Revocable t/f of assets Remuneration of spouse Specific deductions Investment in pension fund Contribution to Pension scheme of CG Medical insurance premium Treatment of dependent handicapped Treatment of handicapped Expenditure on specified diseases Interest on loan for higher education

AJAY JAIN, 9811167879, 9899267879

9.

Assessmen t procedure

10. Appeal

11. Advance tax 12. Income of charitable & religious trust 13. Service tax

Summary

80G 80GG 80-IA 80-IB 80-IC 80-ID 80-IE 80JJA 80QQB 80RRB 88E 139(1) 139(3) 139(4) 139(4A) /(4B)/ (4C)/ (4D) 139(5) 139(9) 139B 139C 139D 140 140A 142(1) 142(2A) to 142(2D) 143(1) 143(2) & (3) 144 147 149(1) 153 154 250 263 264 234B 234C

Deductions for donations Deduction for payment of rent Development of infrastructure Development of SEZ Manufacturing in specified areas Operating hotels and convention Centre Manufacturing of specified articles Bio- degradable waste for generating power Deduction of Income from copyright Deduction of Income from patents Rebate of STT Return of income Return of loss Belated Return Return of Charitable trust/ political parties/ exempted entities/ various institutions Revised return Defective Return Tax Return Preparer Dispensation from furnishing documents Furnishing documents in electronic form Signing of Return Self Assessment Notice to file return and accounts Special Audit Summary Assessment Scrutiny Assessment Best Judgement assessment Income escaping assessment Time limit for issue of notice Time limit for Completion of assessment Rectification of mistake Procedure in hearing appeal Revision of orders prejudicial to revenue Revision of orders prejudicial to assessee Interest for non-payment Interest for deferment of tax

11 12A 12AA 13 13A 64 Rule 4 Rule 6 68 70 Rule 7C Rule 7B 66 67

Incomes of charitable trust Registration of trust Procedure for registration Where exemption is not available Income of political parties Extent, Commencement and application Registration Procedure of payment of service tax Who shall pay the service tax Furnishing of returns Penalty for delay in furnishing return Revised return Charge of Service tax Valuation of services