SECTION -5 OF INCOME TAX ACT, 1961 (1) Subject to the provisions of this Act, the total income of any previous year of a person who is a resident includes all incomes from whatever source derived which- (a) is received or is deemed to be received in India in such year by or on ...
A Single/HOH E-4 with 2 qualifying children deploys to a combat zone for the entire calendar year (Jan-Dec) and has all combat pay excluded from income for the entire year: No matter what the E-4 decides there will be no income tax due on the combat pay. But if the E-4 claims...
all of its subsidiaries, or any one of them as the context may require or, where the context refers to any time prior to its incorporation, the business which its predecessors or the predecessors of its present subsidiaries, or any one of them as the context may require, were or was ...