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Depreciation21984810/13/2020 9:08:22 AM32 of the Act may, instead of the depreciation specified in Appendix IA, at its option, be allowed depreciation under sub-rule (1) read with Appendix I, if 540https://www.incometaxindia.gov.in/Rules/Income-Tax RuleshtmlFalsehtmRuleIncome-tax Rules{f5d01c93-5528-4be1-b341-5dc3e9647425}97136e9e09d-6d7e-4f5a-97d9-ae6ae6b49bb0https://www.incometaxindia.gov.in5
Depreciation59386710/27/2020 3:09:35 PM(i)  buildings, machinery, plant or furniture, being tangible assets that the aggregate deduction, in respect of depreciation of buildings, machinery, plant or 70https://www.incometaxindia.gov.in/Acts/Income-tax Act, 1961/2015htmlFalsehtmActIncome-tax Act, 196132CHAPTER IVComputation of total income2015{13896cd1-2b32-4ec2-8593-d8603ef8120d}5500336e9e09d-6d7e-4f5a-97d9-ae6ae6b49bb0https://www.incometaxindia.gov.in
Depreciation 5828748/7/2014 4:01:33 PMto the amount of the allowance for depreciation for the following previous year and deemed as a deduction (whether by way of depreciation or otherwise) in computing the income https://www.incometaxindia.gov.in/Acts/Income-tax Act, 1961/1989htmlFalsehtmActIncome-tax Act, 196132IVCOMPUTATION OF TOTAL INCOME1989{13896cd1-2b32-4ec2-8593-d8603ef8120d}3920736e9e09d-6d7e-4f5a-97d9-ae6ae6b49bb0https://www.incometaxindia.gov.in
Allowances allowable to tax payer5412Income-tax Act contains provisions for taxability of various allowances received by a taxpayer. These allowances are either in the nature of income which is exempt from tax or is an expenditure which provides weighted deductions to the taxpayer. This list gives a glimpse of tax treatment of various allowances available to a taxpayer.5/30/2021 8:07:04 AMAny allowance or perquisite paid or allowed by Government to its employees posted outside India Individual- Salaried Employee (being a citizen of India Allowances paid by the UNO to 3127https://www.incometaxindia.gov.in/Charts Tables/Forms/AllItems.aspxhtmlFalsehtmCharts & Tables{26b89a4f-398f-430e-bccf-2f9843f0620c}5236e9e09d-6d7e-4f5a-97d9-ae6ae6b49bb0https://www.incometaxindia.gov.in
Public Consultation on the report of the Committee on Profit Attribution to Permanent Establishment (PE) in India216374/18/2019 5:21:45 PMReport on Profit Attribution to Permanent Establishments 1 Submitted to the Central Board of Direct Taxes, Department of Revenue, Ministry of Finance, Government of India 374https://www.incometaxindia.gov.in/News/Forms/AllItems.aspxpdfFalsepdfNews2019-04-17T18:30:00.0000000Z{d314f41b-9f7e-47e9-8dec-841d42e3c73c}26836e9e09d-6d7e-4f5a-97d9-ae6ae6b49bb0https://www.incometaxindia.gov.in
Deductions allowable to tax payer5417 ​Income-tax Act provides certain deductions to compute the actual taxable income. The nature of deductions from total income is different for each category of income. The document will provide a list of all deductions available to different categories of taxpayers for different categories of incomes and the conditions thereof.6/16/2021 12:56:37 PMof power have the option to claim depreciation on written down value basis also Additional depreciation shall be allowed at 35% of actual cost of new plant and machinery 34637https://www.incometaxindia.gov.in/Charts Tables/Forms/AllItems.aspxhtmlFalsehtmCharts & Tables{26b89a4f-398f-430e-bccf-2f9843f0620c}3336e9e09d-6d7e-4f5a-97d9-ae6ae6b49bb0https://www.incometaxindia.gov.in
? Treatment of income from different sources 5431Each income has different source of earning and so the provisions for its taxability. Income-tax Act provides for five heads of incomes for computation of taxable income, viz., Salary, Income from House Property, Income from Business or Profession, Capital Gain and Residual Income. Provisions contained under each head of income for computation of taxable income have been discussed in this document.5/30/2021 8:07:07 AMI. Income under the head Salaries e) Fees, Commission, Perquisites, Profits in lieu of or in addition to Salary or Wages h) Annual accretion to the balance of Recognized Provident 9863https://www.incometaxindia.gov.in/Charts Tables/Forms/AllItems.aspxhtmlFalsehtmCharts & Tables{26b89a4f-398f-430e-bccf-2f9843f0620c}6136e9e09d-6d7e-4f5a-97d9-ae6ae6b49bb0https://www.incometaxindia.gov.in
Latest News - Report on applicability of Minimum Alternate Tax on FIIs/FPIs for the period prior to 01.04.2015216479/1/2015 5:39:28 PMLEGISLATIVE HISTORY OF MAT IN INDIA LEGAL REGIME GOVERNING FIIS AND FPIS IN INDIA FIIs/FPIs and the IT Act Section 115AD of the IT Act Section 591 read with Section 594 of the 21https://www.incometaxindia.gov.in/News/Forms/AllItems.aspxpdfFalsepdfNews2015-08-31T18:30:00.0000000Z{d314f41b-9f7e-47e9-8dec-841d42e3c73c}7336e9e09d-6d7e-4f5a-97d9-ae6ae6b49bb0https://www.incometaxindia.gov.in
Finance Act, 2020214983/27/2020 5:17:09 PMTHE FINANCE ACT, 2020 NO. 12 OF 2020 [27th March, 2020 An Act to give effect to the financial proposals of the Central Government for the financial year 2020-2021 1196https://www.incometaxindia.gov.in/News/Forms/AllItems.aspxpdfFalsepdfNews2020-03-29T18:30:00.0000000Z{d314f41b-9f7e-47e9-8dec-841d42e3c73c}32136e9e09d-6d7e-4f5a-97d9-ae6ae6b49bb0https://www.incometaxindia.gov.in
Circular 8 of 2018-Explanatory Notes to the Provisions of the Finance Act, 20182143412/26/2018 5:29:12 PMF. No. 370142/07/2018-TPL Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) **** CIRCULAR No.-Z/2018 Dated, the 26 th of December, 2018 386https://www.incometaxindia.gov.in/News/Forms/AllItems.aspxpdfFalsepdfNews2018-12-25T18:30:00.0000000Z{d314f41b-9f7e-47e9-8dec-841d42e3c73c}26236e9e09d-6d7e-4f5a-97d9-ae6ae6b49bb0https://www.incometaxindia.gov.in