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Rating
Students
442
Duration
Unlimited Duration
Lectures
344
Videos
4 days, 15 hours
Updated
February 22, 2026
Future Capitals
4 4
6
Courses
5302
Students
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- Constitutional Validity of Taxes 00:32:00
- In this topic, we discussed how the power to levy taxes in India is derived from the Constitution.
- Previous Year [Sec. 3] 00:15:00
- Assessment Year [Sec. 2(9)] 00:24:00
- This unit explains one of the most fundamental concepts in income tax — the Assessment Year (AY) and Previous Year (PY).
- Person [Sec. 2(31)] 00:14:00
- Welcome to this in-depth lesson on the Definition of Person under the Goods and Services Tax (GST) Act.
- Hindu Undivided Family (HUF) 00:15:00
- Indian Company [Sec. 2(26)] 00:15:00
- TAX 00:15:00
- This unit provides a complete introduction to the concept of tax under the Indian Income Tax Act.
- AMT 00:15:00
- This session explains the concept of Alternate Minimum Tax (AMT), applicable mainly to non-corporate
- Return of Income 00:15:00
- This unit provides a detailed understanding of Income Tax Returns (ITR), their purpose, and filing
- Particular Problem 00:30:00
- This module focuses on solving complex, practical tax-related problems that involve multiple heads of
- Cost Inflation Index (CII) 02:00:00
- This session explains the Cost Inflation Index (CII) and its role in calculating long-term capital gains.
- Test Yourself 00:15:00
- Assessee [Sec. 2(7)] 00:13:00
- In this foundational unit, learners are introduced to one of the most essential terms in the Income Tax Act — "Assessee" and "Deemed Assessee.
- Deemed Assessee 00:17:00
- In this foundational unit, learners are introduced to one of the most essential terms in the Income Tax Act — "Assessee" and "Deemed Assessee.
- India [Sec. 2(25A)] 00:20:00
- This section defines “India” for income-tax purposes,
- Income for Income-Tax Purpose 01:00:00
- Here, we discussed what constitutes “income” under the Income-Tax Act.
- Hindu Undivided Family (HUF) 00:15:00
- Hindu Co-parceners 00:10:00
- Schools of Hindu Law 00:15:00
- Computation of Total Income 00:48:00
- This unit explains the complete process of computing total income under the Income Tax Act. Learners
- Method of Accounting for Heads of Income 00:22:00
- This unit explains that taxpayers can maintain either the cash or mercantile system
- Tax Rate [AY 2025-26] 03:00:00
- In this unit, we discussed the applicable Income Tax Rates for the Assessment Year 2025–26,
- Surcharge 00:40:00
- This unit explains surcharge—an additional tax on higher-income taxpayers—and its applicability across
- Special Rates of Income Tax 00:30:00
- This module covers incomes taxed at special rates under the Income Tax Act such as capital gains, lottery
- Rebate [Sec. 87A] 01:00:00
- In this topic, we discussed the applicable income-tax rates for the Assessment Year 2025-26.
- Rounding off of Income [Sec. 288A] 00:40:00
- This video explains the statutory requirement of rounding off total income to the nearest ₹10 as per
- Rounding off of Tax [Sec. 288B] 00:15:00
- This session clarifies how total tax payable is rounded off to the nearest ₹10 under Section 288B.
- Marginal Relief 01:00:00
- This comprehensive module explains marginal relief—an
- (1) Individual/HUF/AOP/BOI/Artificial Juridical Person 00:25:00
- In this unit, we covered the different categories of taxpayers under the Income-Tax Act.
- (2) Firm/LLP 01:00:00
- This session focuses on the application of Marginal Relief for Firms and LLPs whose income crosses the
- (3) Domestic Company/Foreign Company/Co-operative Societies 01:00:00
- This unit covers how Marginal Relief works for domestic companies, foreign companies, and co-operative
- When income of Previous Year is not taxable in the immediately following Assessment Year: 00:20:00
- This unit explains exceptional situations where income of a previous year becomes taxable in a different
- Previous Year for undisclosed sources of income 01:00:00
- This session clarifies the special rule where undisclosed income is taxed in the year in which it is detected,
- Taxation of Cash Credits, Unexplained Money, Investments, etc. [Sec. 115BBE] 00:20:00
- This unit covers taxation of unexplained credits, money, investments, and expenditure at the penal rate
- Heads of Income Vs. Source of Income 00:20:00
- This session explains the difference between “head of income” classifications and “source of income”
- Exemption Vs. Deductions 00:20:00
- This module clarifies the difference between exempt incomes and deduction-based reductions from
- Application of Income Vs. Diversion of Income 00:20:00
- This unit explains the important tax concept distinguishing “application of income” from “diversion of
- Subsidy or grant or cash incentive, duty drawback etc. deemed to be income [Sec.2(24)(xviii)] 00:20:00
- This session explains how various subsidies, incentives, grants, and duty drawback are treated as income
- Average Rate of Tax [Sec. 2(10)] 00:20:00
- This unit explains how the average rate of tax is computed and why it is used in certain tax applications
- Marginal Rate of Tax [Sec. 2(29C)] 00:20:00
- This session covers the concept of marginal tax rate—the rate applicable on the next unit of income.
- Difference between Tax Planning, Tax Avoidance, Tax Evasion & Tax Management 00:10:00
- This unit gives a clear comparison between tax planning, tax avoidance, tax evasion, and tax management.
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- Different Taxable Entities 00:08:00
- In this unit, we have covered the classification of different taxable entities under the Income Tax Act.
- Residential Status 00:25:00
- In this unit, we have covered the importance of determining residential status under the Income Tax Act.
- General points to be kept in mind regarding residential status of a person 00:23:00
- In this unit, we have covered the key aspects to remember while determining residential status.
- Rules to determine Residential Status of an Individual 00:41:00
- In this unit, we have covered the framework for determining the residential status of individuals.
- 1- Basic Conditions to test when an Individual is said to be Resident in India [Sec. 6(1)] 00:07:00
- In this unit, we have covered the basic conditions to test if an individual is resident in India.
- 2- Indian Citizens to be considered as deemed resident of India [Sec. 6(14)] 00:13:00
- In this unit, we have covered the provisions where Indian citizens are deemed residents of India.
- 3- Additional Conditions to test when a Resident Individual is said ordinarily Resident in India [Sec. 6(6)] 00:11:00
- In this unit, we have covered the additional conditions to determine if a resident is “ordinarily resident.”
- 4- Resident but not Ordinarily Resident 00:19:00
- In this unit, we have covered the concept of Resident but Not Ordinarily Resident.
- 5- Rules to determine Residential Status of an HUF [Sec. 6(2)] 00:23:00
- In this unit, we have covered the basic conditions that decide when an individual is treated as a resident in India.
- 6- When a Resident Hindu Undivided Family is Ordinarily Resident in India 00:02:00
- In this unit, we have covered the conditions when a Resident HUF is classified as Ordinarily Resident.
- 7- When a Resident Hindu Undivided Family is not Ordinarily Resident in India 00:02:00
- In this unit, we have covered the classification of HUFs as Resident but Not Ordinarily Resident.
- 8- Rules to determine residential status of Companies [Sec. 6(3)] 00:08:00
- In this unit, we have covered how a company’s residential status is determined under the Act.
- 9- Rules to determine residential status of Firm, AOP, BOI [Sec. 6(2)] or any other person [Sec. 6(4)] 00:05:00
- In this unit, we have covered how unincorporated bodies and other persons are classified for residency.
- Relationship between residential status and incidence of tax 00:03:00
- In this unit, we have covered how residential status directly affects scope of taxation.
- 1- Indian Income 00:06:00
- In this unit, we have covered the meaning and scope of Indian Income.
- 2- Foreign Income 00:45:00
- In this unit, we have covered the definition and scope of Foreign Income.
- Incidence of tax for different taxpayers 00:14:00
- In this unit, we have covered how incidence of tax varies across different taxpayers.
- Relationship of the Receiver with Payer 00:20:00
- Taxability of Salary 00:20:00
- Employer includes 00:15:00
- More than one Employer 00:20:00
- Basis of Charge [Section 15] 00:20:00
- Advance Salary vs Advance against Salary 00:20:00
- Salary due or received in foreign currency 00:20:00
- Computation of salary in the grade system 00:15:00
- TDS on Salary Vs. Tax free Salary 00:20:00
- Performa of computing taxable income from Salary 00:20:00
- Leave Salary [Sec. 10(10AA)] 00:20:00
- In this unit, we discussed how Leave Salary refers to the payment made
- Foregoing of Salary 00:10:00
- Here, we learned that foregoing of salary means voluntarily giving up a part of one’s salary entitlement.
- Surrender of Salary 00:15:00
- This topic explains that surrender of salary occurs when an employee voluntarily donates a part of salary
- Gratuity 00:14:00
- We discussed that gratuity is a lump-sum payment made by an employer as a token of appreciation
- House Rent Allowance [Section 10(13A)] 00:30:00
- In this section, we covered that HRA is an allowance granted to employees to meet rental expenses
- Advance Salary 00:15:00
- This unit explained that advance salary refers to salary received before it becomes due. It is taxable
- Arrear Salary 00:15:00
- Here, we studied that arrear salary is salary received in a later year for services rendered in an earlier period.
- Pension 00:20:00
- Tax treatment of Pension in other cases 00:20:00
- Retrenchment Compensation [Section 10(10B)] 00:20:00
- Compensation on Voluntary Retirement [Section 10(10C)] 00:15:00
- Entertainment Allowance 00:20:00
- When Exemption Depends Upon Actual Expenditure by the Employee 00:20:00
- When Exemption does not depend upon Expenditure 00:20:00
- Other Allowances 00:20:00
- Perquisite 00:20:00
- Definition as per section 17(2) 00:20:00
- Valuation of Perquisites 00:20:00
- Where the accommodation is furnished 00:15:00
- Where the accommodation is provided by the employer (Government or other employer) in a hotel 00:20:00
- Valuation of Motor Car 00:20:00
- Valuation of Leave Travel Concession in India 00:20:00
- Medical Facilities in India 00:00:00
- Medical Facilities Outside India 00:20:00
- Other Perquisite 00:20:00
- Tax Treatment of Approved Superannuation Fund 00:20:00
- Insurance premium payable by employer [Sec. 17(2)(v)] 00:20:00
- Cost of acquisition in case of shares/debentures received under ESOP [Sec. 49(2AA)] 00:20:00
- Tax on ESOP of start-ups to be paid after 5 years of exercising the Option 00:20:00
- Any other benefit, amenity, etc. 00:20:00
- Relief when Salary is paid in Arrears or in Advance [Section 89(1)] 00:20:00
- Provident Fund 00:20:00
- What are permissible deductions from salary income (Sec. 16] 00:20:00
- Basis of Charge [Sec. 28] 03:00:00
- This unit introduces learners to the "Basis of Charge" under Section 28 of the Income Tax Act, which governs the computation of Profits and Gains of Business or Profession (PGBP).
- Income not Taxable under the head Profit and gains of Business or profession 00:24:00
- This unit highlights specific incomes that are excluded from taxation under the head 'Profits and Gains of Business or Profession' as per the Income Tax Act.
- Meaning of Profession or Vocation 00:20:00
- This unit explains what constitutes a profession or vocation under the Income Tax Act. A profession
- Illegal Business 00:13:00
- This unit focuses on the tax treatment of income from illegal or unlawful activities. The Income Tax Act
- Specific Deductions under the Act [Sec. 30(37)] 00:03:00
- This unit covers specific deductions allowed while computing business or professional income. It includes
- Rent, Rates, Taxes, Repairs and Insurance for Building [Sec. 30] 00:12:00
- Section 30 allows deductions for rent, municipal taxes, repairs, and insurance premiums paid for business
- Relevant Case Laws 00:11:00
- This unit summarizes key judicial rulings related to business and professional income. These case laws
- Repairs and Insurance of Machinery, Plant and Furniture [Sec. 31] 00:03:00
- Section 31 provides for deductions related to repairs and insurance of machinery, plant, and furniture
- Depreciation Allowance [Sec. 32] 00:02:00
- This unit explains the concept of depreciation allowance under Section 32. It includes conditions for
- (1) Condition for Allowance of Depreciation 00:08:00
- Depreciation is allowed only when the asset is owned and used for business or professional purposes. It
- (2) Asset should be owned by Assessee 00:10:00
- The assessee must hold ownership, either legal or beneficial, of the asset to claim depreciation.
- (3) Asset must be used for Business or Profession 00:02:00
- Only assets actively used for generating business or professional income are eligible.
- (4) Important Terms for Computation of Depreciation Allowance 00:02:00
- You’ll learn key terms like Actual Cost, Written Down Value,
- Block of Assets [Sec. 2(11)] 01:00:00
- This unit defines the concept of a “block of assets” — a group of assets with similar nature and
- “Actual Cost” [Sec. 43(1)] 00:14:00
- Actual cost refers to the real expenditure incurred by the assessee to acquire an asset. This unit explains
- Written Down Value [Sec. 43(6)] 00:23:00
- Written Down Value (WDV) is the value of an asset after reducing accumulated depreciation.
- No Depreciation shall be allowed in the following cases: 00:14:00
- This unit discusses situations where depreciation is disallowed — such as assets not used for business,
- Depreciation Allowance is Limited to 50% of Normal Depreciation 00:07:00
- If an asset is used for less than 180 days in a financial year, only 50% of normal depreciation is allowed.
- Treatment of Trial Run Expenses and Income Earned During Trial Run Period 00:05:00
- This unit clarifies how expenses and income during a trial run are treated for taxation. Such expenses are
- Treatment of Currency Exchange Fluctuation 00:10:00
- This unit covers adjustments in the value of imported assets due to foreign exchange rate fluctuations.
- Input Tax Credit Adjustment 00:14:00
- This unit explains the relationship between GST Input Tax Credit and asset cost. If ITC is claimed on GST
- Computation of Additional Depreciation [Sec. 32(1)(iia)] 00:14:00
- Additional depreciation is allowed for manufacturing and power generation undertakings on new plant
- Manufacture / Production of Any Article 00:05:00
- This unit defines what constitutes “manufacture” or “production.”
- New Plant and Machinery Installed and Acquired 00:02:00
- You’ll learn about conditions for new plant and machinery to qualify for depreciation.
- Eligible Plant and Machinery 00:03:00
- This unit explains which types of machinery qualify for depreciation and which are excluded (like office
- Taxpoint 00:06:00
- Taxpoint refers to the specific time when tax liability arises on a transaction. In the context of depreciation,
- Residential Quarters 00:04:00
- This unit discusses depreciation and expense treatment of residential quarters provided to employees.
- Depreciation in Case of Succession or Amalgamation or Business Re-organization or Demerger 00:29:00
- This unit explains how depreciation is apportioned when a business undergoes succession,
- Unabsorbed Depreciation [Sec. 32(2)] 00:14:00
- When full depreciation cannot be set off due to insufficient income, it is carried forward as unabsorbed
- Set-off and Carry-forward of Depreciation (i.e., Unabsorbed Depreciation) 00:06:00
- You’ll learn detailed rules for setting off unabsorbed depreciation against any income head and carrying it
- Assets Partly Used for Business Purposes [Sec. 38] 00:02:00
- If an asset is used partly for personal and partly for business purposes, depreciation is allowed only
- Assets Used Partly for Business & Partly for Agricultural Purposes 00:10:00
- Similar to mixed-use assets, depreciation is restricted to the business-use proportion
- Depreciation on Straight-Line Basis in the Case of Power Units [Sec. 32(1)(i)] 00:07:00
- Unlike the WDV method, power generation units may opt for the Straight-Line Method (SLM).
- Terminal Depreciation (Loss on Transfer) or Balancing Charge (Gain) in the Case of Power Units 00:02:00
- When assets in power units are sold or discarded, any difference between sale proceeds
- Terminal Depreciation 00:03:00
- In this unit, we have covered the concept of Terminal Depreciation which arises when the sale value of an
- Balancing Charge under Section 41(2) and Capital Gain under Section 50A 00:04:00
- This unit explains the concept of balancing charge, which occurs when the sale proceeds exceed
- Scientific Research Expenditure [Sec. 35] 00:30:00
- In this unit, we discussed the deduction available for revenue and capital expenditure on scientific
- Deduction in Respect of Expenditure on Specified Business [Sec. 35AD] 00:41:00
- This unit covers the special deduction under Section 35AD for capital expenditure incurred on certain
- Deduction 00:07:00
- This unit gives an overview of all types of deductions available under business income — including
- Other Provisions 00:12:00
- In this unit, we explained miscellaneous provisions under business deductions that do not fall under
- Deduction in Respect of Expenditure on Agricultural Extension Project [Sec. 35CCC] 00:03:00
- This unit highlights deductions for expenditure incurred on notified agricultural extension projects.
- Deduction in Respect of Expenditure on Skill Development Project [Sec. 35CCD] 00:05:00
- This unit explains how companies can claim deductions for expenditure on skill development projects
- Amortisation of Preliminary Expenses [Sec. 35D] 00:03:00
- In this unit, we have covered how certain preliminary expenses incurred before starting a business
- Qualifying Expenditure 00:08:00
- This unit defines the meaning of “qualifying expenditure” for claiming various deductions under Sections
- Qualifying Amount of Expenditure 00:13:00
- Here, we discussed how to determine the amount of expenditure eligible for deduction or amortisation.
- Amount of Deduction 00:04:00
- This unit explains how to calculate the exact deduction allowable under different sections like 35, 35AD,
- Amortisation of Expenditure in Case of Amalgamation/Demerger [Sec. 35DD] 00:06:00
- In this unit, we explained the amortisation of legal and administrative expenditure incurred during
- Expenditure Incurred under Voluntary Retirement Scheme [Sec. 35DDA] 00:06:00
- This unit deals with deductions for VRS expenses paid to employees. Such expenditure
- Provision of Bad and Doubtful Debt of Bank [Sec. 36] 00:02:00
- This unit focuses on the deduction available to banks and financial institutions for creating provisions
- Insurance Premium [Sec. 36(1)(i)] 00:03:00
- This unit explains how insurance premiums paid on stocks, buildings, or business assets are allowable as
- Insurance Premium Paid by a Federal Milk Co-operative Society [Sec. 36(1)(ia)] 00:05:00
- Here, we explained a special provision allowing deduction for insurance premium paid
- Premia for Insurance on Health of Employees [Sec. 36(1)(ib)] 00:03:00
- This unit covers deductions for medical insurance premiums paid for employees. We discussed
- Bonus or Commission to Employees [Sec. 36(1)(ii)] 00:04:00
- In this unit, we explained the rules for allowing deduction of bonuses or commissions paid to employees.
- Interest on Borrowed Capital [Sec. 36(1)(iii)] 00:08:00
- This unit explains the deduction for interest paid on capital borrowed for business purposes.
- Discount on Zero Coupon Bonds [Sec. 36(1)(iiia)] 00:10:00
- This unit deals with the amortisation of discount on Zero Coupon Bonds over their life. We explained how
- Zero Coupon Bonds 00:05:00
- Here, we discussed what Zero Coupon Bonds are and how they differ from regular interest-bearing securities.
- Employer’s Contribution Towards Statutory Fund [Sec. 36(1)(iv) & (v)] 00:12:00
- In this unit, we explained deductions for employer contributions to Provident Fund, Superannuation Fund,
- Employee’s Contribution Towards Staff Welfare Schemes [Sec. 36(1)(va)] 00:13:00
- This unit clarifies how employee contributions received by the employer must be deposited within
- Write-off or Allowance for Animals [Sec. 36(1)(vi)] 00:03:00
- In this unit, we have discussed how the cost of animals used for business is treated when they die
- Bad Debts [Sec. 36(1)(vii)] 00:25:00
- This unit explains how bad debts written off in the books of accounts are allowed as deductions.
- Bad Debt Recovery [Sec. 41(4)] 00:04:00
- In this unit, we have discussed the treatment of recovery of bad debts that were earlier written off
- Relevant Case Laws 00:12:00
- This unit covers important judicial case laws that have shaped the interpretation of business income
- Family Planning Expenditure [Sec. 36(1)(ix)] 00:15:00
- In this unit, we studied the deduction available for family planning expenditure incurred by companies
- Securities Transaction Tax [Sec. 36(1)(xv)] & Commodities Transaction Tax [Sec. 36(1)(xvi)] 00:12:00
- This unit explains the deduction of Securities Transaction Tax (STT) and Commodities Transaction Tax (CTT)
- Purchase of Sugarcane [Sec. 36(1)(xvii)] 00:04:00
- In this unit, we explained the special deduction allowed to co-operative sugar factories for payment
- General Deduction [Sec. 37(1)] 00:21:00
- This unit covers one of the most important provisions — the general deduction clause. It allows
- Corporate Social Responsibility (CSR) Expense Not Deductible 00:09:00
- In this unit, we discussed that CSR expenditure, though mandatory under the Companies Act, is not
- Circular No. 5/2012 dated 01.08.2012 00:07:00
- This unit highlights the important clarifications issued by CBDT through Circular No. 5/2012 regarding
- Advertisement Expenses [Sec. 37(2B)] 00:10:00
- In this unit, we covered the rules relating to advertisement expenditure, especially restrictions on political
- Specific Disallowances under the Act 00:04:00
- This unit explains the various expenses that are specifically disallowed under the Income Tax Act. These
- Due Date of Deposit of TDS 00:26:00
- In this unit, we have explained the due dates for depositing Tax Deducted at Source (TDS) with
- Consequences if Tax is Deposited Subsequently 00:13:00
- This unit discusses what happens if TDS is deposited late. We explained interest, penalty,
- First Proviso to Sec. 201(1) 00:06:00
- Here, we explained the relief available to deductors when the deductee has already paid tax on
- Compliance of TDS Provisions in Case of a Resident [Sec. 40(a)(ia)] 00:16:00
- In this unit, we studied how failure to comply with TDS provisions affects deductibility of expenses.
- Income Tax [Sec. 40(a)(ii)] 00:06:00
- This unit discusses the disallowance of income tax paid by an assessee as a business expenditure.
- Salary Payable Outside India Without Tax Deduction [Sec. 40(a)(iii)] 00:09:00
- This unit explains that any salary payable outside India, or to a non-resident, is not deductible unless tax
- Maximum Permissible Remuneration to Partner in Firm [Sec. 40(b)] 00:00:00
- This unit provides a comprehensive analysis of Section 40(b) of the Income Tax Act.
- Computation of Book Profit for Remuneration u/s 40(b) 00:02:00
- In this topic, we detailed how to compute book profit for determining allowable remuneration
- Maximum Permissible Interest on Capital to Partner in Firm [Section 40(b)] 00:14:00
- This unit explains the rules for calculating maximum allowable interest on capital paid to partners.
- Tax Treatment in the Hands of Partners 00:03:00
- Here, we studied how the partner’s income (like remuneration, interest, or profit share) is taxed.
- Amounts Not Deductible in Respect of Excessive Payment to Relative [Sec. 40A(2)] 00:06:00
- This unit discusses how payments to relatives or related parties can be disallowed if considered excessive
- Specified Person Referred to in Section 40A(2) 00:16:00
- In this topic, we identified who qualifies as a “specified person” — including relatives, directors,
- Amounts Not Deductible in Respect of Expenditure Exceeding ₹10,000 [Sec. 40A(3)] 00:23:00
- This unit focuses on disallowance of expenses paid in cash exceeding ₹10,000 to a single person in a day.
- Exceptions [Rule 6DD] 00:30:00
- This topic explains exceptions to Section 40A(3), where cash payments are still allowed.
- Expenses Deductible on Payment Basis [Sec. 43B] 00:16:00
- In this unit, we covered specific expenses that can be claimed only when actually paid, such as taxes,
- Full Value of Consideration in Respect of Transfer of Immovable Property Held as Business Asset [Sec. 43CA] 00:20:00
- This unit explains the concept of full value of consideration for transfer of business assets like land
- Restriction on Accepting Loan [Sec. 269SS] 00:02:00
- This topic teaches the restriction on accepting loans or deposits in cash exceeding ₹20,000.
- Restriction on Repaying Loan [Sec. 269T] 00:03:00
- Here, we explained the prohibition on repayment of loans or deposits in cash above ₹20,000.
- Restriction on Receipt of Cash Exceeding ₹2 Lakh [Sec. 269ST] 00:21:00
- This unit covers the rule prohibiting cash receipts of ₹2 lakh or more in a day or transaction.
- Maintenance of Books of Account [Sec. 44AA] 00:40:00
- We explained which taxpayers are required to maintain books of account under Section 44AA.
- Tax Audit [Sec. 44AB] 00:30:00
- This topic explains the audit requirements for taxpayers whose turnover crosses specified limits.
- Due Date for Getting Books Audited and Form No. of Audit Report 00:05:00
- This unit explains presumptive taxation for small businesses where income is computed on an estimated basis.
- Presumptive Taxation (Sec. 44AD) 00:03:00
- This unit explains presumptive taxation for small businesses where income is computed on an estimated basis.
- (1) Computation of income on estimated basis in the case of taxpayers engaged in any business except the business of plying, hiring or leasing goods carriage [Sec. 44AD] 00:50:00
- This unit explains presumptive taxation for small businesses where income is computed on an estimated basis.
- Computation of Income on Estimated Basis for Professionals [Sec. 44ADA] 00:15:00
- Here, we explained presumptive taxation for specified professionals.
- Computation of Income on Estimated Basis in the Case of Plying, Leasing, or Hiring Goods Carriage [Sec. 44AE] 00:12:00
- This topic covers presumptive taxation for transporters owning goods vehicles.
- Special Provisions for Computing Profits & Gains for Non-Residents 00:05:00
- In this unit, we discussed how income of non-residents is computed under special provisions.
- Method of Valuation of Stock [Sec. 145A] 00:25:00
- This unit explains how inventories must be valued, including taxes, duties, and other costs.
- Multiple Choice Questions (MCQ) 00:15:00
- This section provides objective-type questions for practice and quick revision.
- Unsolved Exercise 00:50:00
- This final section contains practical questions and problems for self-practice.
- Basis of Charge [Sec. 56] 00:31:00
- This unit continues the exploration of Section 56 of the Income Tax Act, focusing on advanced provisions and various categories of ‘Income from Other Sources.
- Other incomes normally included under ‘Income from Other Sources’ 00:35:00
- Here, we studied incomes typically included under this head.
- Deemed Dividend [Sec. 2(22)] 00:33:00
- This topic explains deemed dividend and its taxation.
- Summary 00:33:00
- We summarized all key aspects of Income from Other Sources.
- Casual income: Winning from Loteries,Crosword Puzzles, etc.[sec.56(2)(ib)] 00:29:00
- In this unit, learners are introduced to the taxation of casual incomes under Section 56(2)(ib) of the Income Tax Act, 1961.
- Interest on Securities [Sec. 56(2)(id)] 00:39:00
- Explains taxation of interest earned on various securities.
- Avoidance of tax by certain transaction in securities (Bond Washing Transaction) [Sec. 94] 00:39:00
- Covers tax avoidance using securities transactions.
- Grossing up 00:45:00
- This unit provides a detailed explanation of the concept of Grossing Up under the Income Tax Act.
- Deductions for expenses from Interest on Securities [Sec. 57] 00:20:00
- Covers allowable expenses while computing taxable interest.
- Interest exempt from tax [Sec. 10(15)] 00:16:00
- Explains categories of interest that are fully exempt.
- Income from letting out of machinery, plant or furniture [Sec. 56(2)(ii)] 00:02:00
- Explains taxation of rent from machinery, plant, or furniture.
- Income from composite letting of machinery, plant or furniture and buildings [Sec. 56(2)(iii)] 00:02:00
- Covers income from combined rent of equipment and buildings.
- Receipts without consideration to be treated as income [Sec. 56(2)(x)] 00:11:00
- Explains how gifts or property without consideration are taxed.
- Receipt of sum of money/property without consideration or for inadequate consideration should fall in any of the following categories 00:20:00
- Classifies types of receipts and their taxation.
- Exempted Categories 00:20:00
- Lists categories of receipts not taxable.
- Other Relevant Points 00:25:00
- Covers additional clarifications and special cases.
- Share Premium in excess of fair market value [Sec. 56(2)(viib)] 00:06:00
- Explains how excess share premium is treated as income.
- Tax Point 00:07:00
- Explains when income is deemed taxable.
- Exceptions 00:05:00
- Covers situations where usual taxation rules don’t apply.
- Proviso Illustrated: 00:04:00
- Provides practical examples to explain complex provisos.
- Family pension payments received by the legal heirs of a deceased employee 00:10:00
- Explains taxation of family pension.
- Amounts not deductible in computing income under the head ‘Income from Other Sources’ [Sec. 58] 00:05:00
- Covers expenses that cannot be claimed as deductions.
- Carry forward & set off of loss in case of closely held companies [Sec. 79] 00:20:00
- Taxpoint 00:20:00
- Option for eligible start-up company 00:20:00
- What is total income and how is it computed 00:25:00
- Total Income refers to the aggregate income of an individual, Hindu Undivided Family (HUF),
- Alternate Minimum Tax (AMT) [Sec. 115JEE(1)] 00:20:00