INCOME TAX LIBRARY

Special Features

  • When you open this library you will find one Pop-up showing latest important updates on GST/Income tax. It will help you to know what are the date-wise important up-dates.
  • All sections of Act and Rules are in up-dated form and amendments made at different occasions are shown through footnotes. Reference of any section or rule is given by a link to help user to reach at that place by the help of a click.
  • All notifications are updated on day-to-day basis and all the amendments are shown through footnotes. Link of all Sections/Rules mentioned in Notifications/ Circulars are given to reach there by just a click.
  • All Judgements of Supreme Court, High Courts and Income Tax Appellate Tribunal are up-dated on daily basis. All link are given of Section/Rules or other judgements referred in the judgements for easy reach by just a click. Head note and analyzer is also prepared to save time of users.
  • Landmark Judgements are grouped separately to save time of user.
  • Latest Articles on various subjects in English and in Hindi are available.
  • We provide you service to ask any query through our Income Tax Library. Queries replied upto date are available in our "The advisor" tab in the library.
  • In Ready Reckoner you can find all the material related to a topic at one place. For example you want to know various rules related to cash transactions in income tax Act, the information related to cash transaction like cash payment, cash receipt, cash loan etc. are available at one place here.
  • If you want to calculate tax on your income you can use our tax calculator facility. You can also calculate deferred tax & advance tax through this feature.
  • Ready Reckoner is available on all the topics. It is available from A.Y. 2019-20 till this A.Y.
  • FAQ issued by income tax department are compiled at one place A.Y. wise.
  • Dictionary meaning of specific thchnical/hard word are also available.
  • In Act & Rules commenary with list of judgements and notifications/circulars are also available.

UNIQUE FACILITIES

Bell facility

  • Any matter up-dated in library but not seen by you is reflected in your bell when you open the library. It will help you to know what new is updated in this library.

Profile facility

  • On right side top of the screen you will find your name. Click here. You will find profile here. Click here. You will find information related to your subscription.

Post query facility

  • Click it and a window will appear. You can type any query and submit the same. It will directly come to us and we shall send you the reply within 48 hours. This is a paid facility.

Bookmark facility

    This is a very unique facility. Suppose you are working on any client’s problem and you find various Judgements, Circulars, Notification, Reply of Query, Article, Section, Rule etc. useful for that purpose in our library. Through this facility you can save that material in one folder by creating a folder in the name of that client or by giving some other name. It can be used any time later. In case of any help, feel free to call on our help line numbers.

  • Suppose you have opened a judgement and you find it useful for your client ABC Ltd. On top of this judgement you will find a tab "Bookmark". Click it. It will ask folder name & bookmark name. Give folder name "ABC Ltd." and bookmark name "Brand equity" and submit.
  • Now open a notification. You will again find "Bookmark" tab on top of it. Click it. Now type just "A" and folder already created by you in the name of "ABC Ltd" will popup. Select it and give bookmark name "notification" and click submit button.
  • Now come to profile and click profile. Here you will find a "Bookmark" tab. Click it and you will find "ABC Ltd." folder here and both the judgement & notification saved by you in this folder are appearing here. Just double click any one and the full content will be before you.
  • You can also edit it by using Microsoft facilities available here. You can also colour any important point of this matter.

Notes Facility

  • This is another very unique feature of this library. Suppose you are preparing any reply of notice or drafting any appeal for your client. You can use this feature for this purpose. You can also prepare any article or notes for discussion using this facility. Suppose you are reading a judgement in this library and you want to quote some matter from here. You will find a tab "Note" on top of this judgement. Select the required matter by clicking your mouse and copy it and then click notes button. You will shift to notes section of this library and a window will appear before you. Just paste the material copied from that judgement here and click save notes button. It will ask the note name. Give any name say "XYZ Ltd." The note will be successfully added.

What’s New

  • In Judgement Section, New Judgements which you have not seen are shown separately in “What's new” button on top adjacent to Advance Search button.

HOW TO USE THE INCOME TAX LIBRARY

ChatIT

  • Click this tab
  • You will find “home”, “Refresh” and “back” button on top of it and one search button.
  • Click “home” to come out of it.
  • If you have typed some words and want to clear all the words typed earlier then click “Refresh” button.
  • If you have typed some words and some questions pop up and you searched any question and then again wants to come to the words you typed earlier click “back” button.
  • How to use ChatIT facility

  • If you want to search any question on gift than type the word “gift”.
  • If you want to search any question on return then type the word “Return” and many questions on return will pop up. Now you want to know about updated return then type “Updated” also after typing “return” and you will find reply related to updated return.

    Income Tax Act/Rules/Forms

  • By clicking this tab you will find I.T. Act/Rules/Forms Button.
  • On main screen you can see chapter wise list.
  • Click any one and see it with links.
  • In case you want section wise list click section wise button on left side top near home button
  • On every selected section, you will find button (i) Print (ii) Bookmark (iii) Mail (iv) Notes and (v) Close.
  • Book mark and notes facility is a unique feature of this library and it is explained separately.
  • Advance Search facility is also available in section wise list
  • How to use advance search facility

  • Click Advance search and a window will appear on screen.
  • Section/Rule wise search facility and text wise search facility is available
  • Suppose in text search you type "capital gain" then some records will appear before you. Click any row and in all the displayed material "capital gain" word will be available in yellow color.
  • Examples – Search section → Sec. 68 etc. etc. → Submit – Search Text → Agricultural Income, Capital gain, Rent, Loans → Submit

    Notification/Circular/Orders/Press Release

  • When you will click it you will find a list of notification etc. issued till date on your screen – date wise.
  • Here you have option on top right hand side to select them as per your choice i.e. All, Notification, Circular, Order, Press release, Guidelines.
  • You have another option of advance search. Click it and you will find a window on your screen. Here you have choice to select the category, subject, text, Govt. S.No. or year.
  • How to use advance search facility

(1) Category — Notification
Subject — Cost Inflation Index
(2) Category — All
Subject — Aadhaar Number

Judgements

  • When you will click it, you will find a list of judgements on your screen date wise. Latest judgements will be available on the top.
  • When you will click any judgement, you will find on top of screen buttons of print, mail, bookmark, notes, analyzer, close.
  • On top of screen you will find advance search button.
  • In advance search you will find many options to find a useful judgement. Here you have following options to search a judgement (i) Section wise (ii) Rules wise (iii) Court wise (iv) Citation wise (v) Subject wise (vi) Text wise (vii) Party wise (viii) In favour of Revenue/Assessee (ix) Year wise/month wise.
  • You are also given second search option. This way you can search and then filter again by second search.
  • How to use advance search facility

  • (1) Section wise — 068 " Submit
  • (2)Court wise — High Court " Allahabad High Court " Submit
  • (3)Citation wise — ITR " Vol. 422 " Submit
  • (4)Subject wise — Cash Credit " Submit
  • (5)Text wise — House rent " Submit
  • (6)Party wise — Abacus " Submit

    Land Mark Judgement

  • Very important judgments are selected for your special need. It is used in the same manner as judgements.

Due date

  • Due dates for various compliance available at one click
  • You can also see month wise compliances of due dates by clicking month wise option.

Budget

  • By clicking this tab you will find Budget Speech, Finance Act, Provisions relating to Direct Tax and Vivad se Viswas Act. All the informations at one place are very useful for you to quickly go through it.

Articles

  • Many Articles in English and Hindi are available in this tab. You can search them by subject and by text.

    The Advisor

  • Queries asked by our users are given here. You can search them subject wise and text wise.
  • You can also send your query through "Profile" option on right hand side top where your name is appearing. (This is a paid facility).

    Quick Search

  • This is a very unique feature of this library. When you click “Quick Search” you find on your screen various subjects of Income tax on the left hand side.
  • If you select any subject from the list appearing in left hand side, you will find all the information about that subject at one place. You just click and fetch the desired information.
  • The information available here is very handy and presented in a different way.

    Ready Reckoner

  • This is a very unique feature of this library. When you click this button you will find many subjects on left hand side of the screen. Just click any one and get the full information.
  • Ready Reckoner is very concise and well designed.
  • The Ready Reckoner is from A.Y. 2019-20, till this A.Y.

    DTAA Agreement

  • DTAA agreements with various countries are available at one place.

    FAQ (A.Y. Wise)

  • FAQs on different topics issued by CBDT are Compiled at one place for your ready reference.

    Draft Reply of Income tax Notice

  • Many times you receive a notice from department in connection with proceedings against your clients. We have started this tab to have ready made draft replies of various notices for your clients. You can ask us to prepare replies if you so desire and we shall provide you the replies in this tab, which will also be useful for other users.

    Tax Calculator

  • Here you can calculate your tax liability. Just select Assessment year and other information asked by system and you will calculate your tax liability.
  • Here you can calculate your taxable income also. You can compute your income under different heads.
  • You can also calculate deferred tax liability. Just click here and fill the information asked by system.
  • You can also calculate your advance tax liability by just filling certain information asked by system.

    Equilisation Levy

  • Equilisation levy is a separate subject with separate Act, Rules, Forms, Scheme etc. Equilisation levy was introduced by the Finance Act, 2016 chapter VIII. You can see all the related matter of equilisation levy in this tab.

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