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"Presumptive taxation under The Income Tax Act, 1961- An old provision in new avatar." "Income tax is a tax on Income earned and received in India by the Assessee. Every person is liable to pay tax on the Income exceeding Rs.2,50,000/- Per annum.But many people does not pay a si...
1961 (hereinafter ‘the Act’), during the financial year 2021-22, were intimated. The present Circular contains the rates of deduction of Income-tax from the payment of
tax Act, 1961 and to draft a new direct tax law in consonance with economic needs of the country, the Government had constituted a Task Force vide Office Order of even number dated 22.11.2017, the Terms of Reference (ToR) being drafting an appropriate direct tax legislation keeping in view...
What is Section 10 of Income Tax Act? Section 10 of Income Tax Act, 1961 includes such income that does not form part of the total income while calculating the total tax liability of any person. These incomes are also... 1 2 3 … 22 Next 1800...
(14),ofsection2oftheIncome-taxAct,1961(43of1961),intheGazetteofIndia,Extraordinary, PartII,section3,sub-section(ii),datedFebruary13,1991,underthenotificationoftheGovernmentof IndiaintheMinistryofFinance(DepartmentofRevenue)No.S.O.91(E),datedFebruary8,1991,for specifyingcertainareasforthepurposesof...
Corporate Tax In India - An Overview The corporate tax also known as a corporation tax is a direct tax levied on net income, Capital gains, and profits made by entities both domestic and foreign. This tax is imposed at a specific rate as per the provision of Income Tax Act of 1961. Th...
The Modi led government in its last term constituted a Task Force to rewrite the Income Tax Law that would reduce compliance and tax burden and make tax governa
Code Enter the valid TDS Section applicable as per the Income Tax Act, 1961. Description Enter the description of the mentioned TDS Section. e-TDS Specifies the section code to be used in the TDS return. Tip User can create any number of sub-sections for a section using Add Sub Sect...
Direct Tax Code (DTC) – A Step Towards Tax Reforms In India Keeping this in a view, there has been proposal to replace the existing Income Tax Act-1961.The Finance Minister Pranab Mukherjee on Wednesday 12 august 2009 released the draft of Direct Tax Code 2009 (DTC) for public opinion ...