Income Tax

Residential Status

How to determine Residential Status – Section 6

Residential Status (Section 6 of Income Tax) Determination of Residential Status in Income Tax Act,  are updated for June 2023 and Dec 2023 Exams. These notes are beneficial for CS Executive New Syllabus of ICSI.   Topics included in this Article Residential Status of an IndividualResidential Status of an HUFResidential Status of a CompanyPlace of Effective …

How to determine Residential Status – Section 6 Read More »

tax treatment of allowance

Tax Treatment of Allowance – Income Tax

Tax treatment of Allowances Tax treatment of Allowances are updated for June 2023 and Dec 2023 Exams. These notes are beneficial for CS Executive New Syllabus of ICSI.   What are allowances? Allowances are benefits payable in cash by employer to employee for some specific purpose (personal or official) without the concern whether the employee is …

Tax Treatment of Allowance – Income Tax Read More »

scope of total income

Scope of Total Income (Section 5) – Notes, MCQs, Videos

Topics covered in this Article Scope of Total Income (Section 5 of Income Tax Act, 1961)Scope of Total Income in case of Resident and Ordinarily Resident (ROR)Scope of Total Income in case of Resident but not Ordinarily Resident (RNOR)Scope of Total Income in case of Non Resident (NR)Meaning of ‘Income Received’Income ‘Deemed to be Received’Income …

Scope of Total Income (Section 5) – Notes, MCQs, Videos Read More »

Charge of Income Tax

Charge of Income Tax (Section 4 of Income Tax Act 1961)

These CS Executive Tax Notes on Charge of Income Tax (Section 4) are updated for June 2023 and Dec 2023 Exams. These notes are beneficial for ICSI New Syllabus.  Visit here for => CS Executive Online Classes. Topics Covered in this Article Section 4 of Income Tax Act, 1961 Cases where income is assessable in …

Charge of Income Tax (Section 4 of Income Tax Act 1961) Read More »

Definitions in Income Tax

Definitions in Income Tax Act 1961 with MCQs

Important Definitions in Income Tax with MCQs These definitions in Income Tax Act, 1961 are updated for June 2023 and Dec 2023 Exams. These notes are beneficial for CS Executive New Syllabus of ICSI.   Topics Covered under this Article Definition of Assessee [Section 2(7) of Income Tax, 1961]Definition of Principal Officer [Section 2(35) of Income …

Definitions in Income Tax Act 1961 with MCQs Read More »

CS Executive Income Tax Notes

CS Executive Income Tax Notes for June 2023 Dec 2023

CS Executive Income Tax Notes – Basic Concepts of Income Tax with MCQs These CS Executive Income Tax Notes on Basic Concepts of Income Tax are updated for June 2023 and Dec 2023 Exams.  Topics covered in this Chapter Introduction to Income Tax Laws Central Board of Direct Taxes and Central Board of Excise and …

CS Executive Income Tax Notes for June 2023 Dec 2023 Read More »

CS Executive Tax Notes

CS Executive Tax Notes with MCQs asked by ICSI

CS Executive Tax Notes with MCQs – Chapter 1 – Direct Taxes at Glance These CS Executive Tax Notes are updated for June 2023 and Dec 2023 Exams. These notes are beneficial for CS Executive New Syllabus.   Topics included in this Article What is Tax?Some Definitions of TaxConstitutional Powers of Government to Impose TaxesSome Taxes …

CS Executive Tax Notes with MCQs asked by ICSI Read More »

Income from Other Sources

Tax on Income from Other Sources

Income from Other Sources (amended till Finance Act 2021) Topics Covered in this Article Main Sections of Income Tax Act, 1961 related to Income from Other SourcesIncome Covered under Section 56 to be charged under the head “Other Sources”Examples of Income to be charged under the “Other Sources” not specifically covered under Section 56  Taxability of …

Tax on Income from Other Sources Read More »