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Description: Income Tax Act 1961 | Basics Of Income Tax Act 1961 | B.com | M.com | BBA | CA | CS | CMA In This Video We Will Discuss Basics Of Income Tax Act 1961 All Concepts, Problems and Examples for Class B.com, BBA, CA, CS and CMA, have been discussed by Chandan Poddar Sir For Grooming Education Academy. 𝐂𝐀 𝐈𝐧𝐭𝐞𝐫 𝐓𝐚𝐱𝐚𝐭𝐢𝐨𝐧 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐂𝐨𝐮𝐫𝐬𝐞 escholars.in/s/store/courses/description/CA-Inter-Taxation-May-2020 𝐂𝐀 𝐈𝐧𝐭𝐞𝐫 𝟑.𝟎 𝐁𝐨𝐭𝐡 𝐆𝐫𝐨𝐮𝐩 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐂𝐨𝐮𝐫𝐬𝐞 𝐰𝐢𝐭𝐡 𝐓𝐞𝐬𝐭 𝐒𝐞𝐫𝐢𝐞𝐬:- escholars.in/s/store/courses/description/CA-Inter-Online-Classes 𝐂𝐀 𝐈𝐧𝐭𝐞𝐫 𝟑.𝟎 𝐆𝐫𝐨𝐮𝐩 𝟏 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐂𝐨𝐮𝐫𝐬𝐞 𝐰𝐢𝐭𝐡 𝐓𝐞𝐬𝐭 𝐒𝐞𝐫𝐢𝐞𝐬: - escholars.in/s/store/courses/description/CA-Inter---Group-1-100-Success-Pack-May-2020 𝐂𝐀 𝐈𝐧𝐭𝐞𝐫 𝟑.𝟎 𝐆𝐫𝐨𝐮𝐩 𝟐 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐂𝐨𝐮𝐫𝐬𝐞 𝐰𝐢𝐭𝐡 𝐓𝐞𝐬𝐭 𝐒𝐞𝐫𝐢𝐞𝐬:- escholars.in/s/store/courses/description/CA-Inter---Group-2-100-Success-Pack-May-2020 𝐂𝐀 𝐈𝐧𝐭𝐞𝐫𝐦𝐞𝐝𝐢𝐚𝐭𝐞 𝐆𝐫𝐨𝐮𝐩 𝟏 𝐏𝐞𝐫𝐟𝐞𝐜𝐭 𝐑𝐞𝐯𝐢𝐬𝐢𝐨𝐧 𝐁𝐨𝐨𝐤:- escholars.in/s/store/courses/description/Perfect-Revision--CA-Inter-Revision-Book-Notes 𝐂𝐀 𝐈𝐧𝐭𝐞𝐫𝐦𝐞𝐝𝐢𝐚𝐭𝐞 𝐆𝐫𝐨𝐮𝐩 𝟐 𝐏𝐞𝐫𝐟𝐞𝐜𝐭 𝐑𝐞𝐯𝐢𝐬𝐢𝐨𝐧 𝐁𝐨𝐨𝐤:- escholars.in/s/store/courses/description/Perfect-Revision--CA-Inter-Group-2-Revision-Book-Notes Watch Next:- Residential Status Chapter In Single Video:- youtu.be/782v1LyT7kY Heads Of Income Complete Chapter Part - 1:- youtu.be/27E6cGA7OBA Heads Of Income Complete Chapter Part -2 :- youtu.be/R6nTOC89UGU Topics Covered:- Income Tax Act 1961, Basics Of Income Tax 1961, Income Tax Chapter 1, Taxation Chapter 1 Basics Income Tax Act 1961, Taxation Income Tax Act 1961, Taxation Free Lectures, Income Tax Act 1961 B.Com, basics of income tax for beginners, basics of income tax act 1961 in hindi, income tax act 1961 basics, direct tax, indirect tax, income tax act 1961 basics, icai exams, Income Tax including surcharge (if any) & cess is charged for any person at the rate as prescribed by Central Act for that assessment year. Income-tax Act has provided separate provisions with respect to levy of tax on income received in advance as well as the income with respect of which the amount has not yet been received. A person also has to keep track of his TDS deducted while calculating his final tax liability at the end of the year. For Income Tax Act 1961, the previous year is defined as the financial year which immediately precedes the assessment year. In case the source of income is new or the business set up is new, the previous year for that entity will start from the date of setting up of that business or profession or from the date when the source of income of this new existence starts and ends in the said financial year. These incomes are taxed as the income of the year immediately preceding the assessment year at the rates applicable to such a person. Income of a person who is leaving India for a long period or permanently Income of a person who is trying to alienate his assets with an intention to avoid taxes Income of a discontinued business Income of non-resident shipping companies who don’t have any representative in India Scope to Total Income: As per the Income Tax Act 1961, the total income of the previous year for a person who is a resident of India will include all his income irrespective of the source of that income which is either received or has accrued in India in the previous year. Heads of Income Tax: Every income arising to any person will always be classified under one of the following headers provided by the Act: – Salaries Income from house property Profit and gains of business or profession Capital gains Income from other sources Grooming education academy is engaged in providing qualitative commerce education to society at concessional prices. We believe in Research, reasoning and result and thus our learners admit our USP of: "Pioneer in developing concepts". We provide the complete tutorials for all commerce courses including CA, CS, CMA, BCom, BBA, Mcom, MBA, M.com, Class 12, Class 11 and other commerce courses. To know about the courses and books that best suits your requirement call at our helpline number: 𝟖𝟖𝟖 𝟖𝟖𝟖 𝟎𝟒𝟎𝟐 𝐕𝐢𝐬𝐢𝐭 𝐎𝐮𝐫 𝐖𝐞𝐛𝐬𝐢𝐭𝐞 to know more about the courses available: escholars.in 𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐀𝐩𝐩 for getting the latest updates regarding new courses and Video Updates: play.google.com/store/apps/details?id=com.spayee.escholars.reader (Available on Google Play Store and App Store as Well) 𝐉𝐨𝐢𝐧 𝐨𝐮𝐫 𝐭𝐞𝐥𝐞𝐠𝐫𝐚𝐦 𝐜𝐡𝐚𝐧𝐧𝐞𝐥 𝐟𝐨𝐫 𝐝𝐚𝐢𝐥𝐲 𝐮𝐩𝐝𝐚𝐭𝐞𝐬:::: t.me/geacp 𝐅𝐚𝐜𝐞𝐛𝐨𝐨𝐤 𝐏𝐚𝐠𝐞: facebook.com/GroomingEducationAcademy 𝐈𝐧𝐬𝐭𝐚𝐠𝐫𝐚𝐦 𝐏𝐚𝐠𝐞: instagram.com/groomingeducationacademy 𝐓𝐰𝐢𝐭𝐭𝐞𝐫 𝐏𝐚𝐠𝐞: twitter.com/AcademyGrooming 𝐋𝐢𝐧𝐤𝐞𝐝𝐈𝐧 𝐏𝐚𝐠𝐞: linkedin.com/company/grooming-education-academy 𝐏𝐢𝐧𝐭𝐞𝐫𝐞𝐬𝐭 𝐏𝐚𝐠𝐞: in.pinterest.com/groomingeducation #Income_Tax #Act_1961 #Groomingeducation #Chandanpoddar