Tax Mohalla - Tax by KK

There are basically three sections | Tax classes | of Income Tax Act, 1961 which shall govern this chapter residential status. Section 5: Incidence of tax Section 6: Determination of residential status Section 9: Income deemed to accrue or arise in India. Types of residential status 1. Resident in India     a. Resident and ordinarily resident in India (R-OR)     b. Resident and not ordinarily resident in India (R-NOR) 2. Non resident in India Indian income is always taxable in India irrespective of the residential status. Taxability of foreign income or income earned outside India shall depend upon residential status. I am looking for CA Inter Taxation class? Please visit our store: www.TaxByKK.com I am looking for CS Executive Tax Laws and Practice class? Please visit our store: www.TaxByKK.com I am looking for CMA Inter class? Please visit our store: www.TaxByKK.com I am looking for Income Tax recorded class? Please visit our store: www.TaxByK...

The | Tax classes | topics covered in this income tax video lectures are: a. Income b. Taxable Income c. Gross Total Income d. Previous Year e. Assessment Year f. Financial Year g. Exceptions to the previous year How to compute Taxable Income? By adding all the five heads of Income a. Income from Salaries b. Income from House Property c. Profits and Gains from Business or Profession d. Capital Gain e. Income from Other Sources Two adjustments Clubbing of income Set off and carry forward of losses Gross Total Income Less: Deductions under section 80C to 80U Few specific deductions are: 80C: LIC, PPF, NSC etc 80CCC: Pension plan 80CCD: New Pension Plan 80D: Mediclaim, Health insurance 80DD: Medical treatment of disabled person 80DDB: Medical treatment of specified disease 80G: Donations 80TTA: Deduction of interest 80TTB: Deduction of interest of senior citizens Total Income I am looking for CA Inter Taxation class? Please visit our store: www.TaxByKK.com I am looking for CS Exec...