Provisions of section 40(b) of Income Tax Act 1961AMIT BAJAJ ADVOCATE
The Finance Bill, 2021 received the assent of Honourable President of India on 28th March 2021 upon which it came to be known as the ‘Finance Act, 2021'. Like every year, this year also numerous amendments have come up in the provisions of the Income Tax Act, 1961 wit...
To the extent this alternative way of calculating income tax results in higher taxes payable, then the excess over the normal way is payable. However, such AMT can be applied against future income taxes payable (to a maximum of seven future years) to the extent AMT is not payable in those...
This article discusses only the provisions in the Income Tax Act 1967 (the Act). While reading this article, candidates are expected to make concurrent references to the relevant provisions of the Act, as amended. Tax liabilities constitute a direct cost of doing ...
As per the Income Tax Act, 1961, tax needs to be deducted by the payer, when the payment is of a specific nature. If the TDS is deducted by the customer (deductor), then the user (deductee) has to calculate TDS on the invoice or revenue and keep a track of TDS dedu...
Purpose A taxpayer who gets caught under Part VII of the Mauritius Income Tax Act is subjected to a corrective measure only in the form of payment of the amount of tax that would have been due in the absence of the avoidance arrangement, but the consequences set out in the same section ...
Subject to the provisions of note 1 above, heading No 8608 applies inter alia to : Sous réserve des dispositions de la note 1 ci-dessus, relèvent notamment du n° 8608 : EurLex-2 The Agency is not subject to the provisions of the Income Tax Act. Pour réaliser son mandat, l...
IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH B NEW DELHI BEFORE SH ANIL CHATURVEDI ACCOUNTANT MEMBER AND SH SANJAY GARG JUDICIAL MEMBER THROUGH VIDEO CONFER
An Analysis of Challenging the Commissioner's Discretionary Powers Invoked in Terms of Sections 74A and 74B of the Income Tax Act 58 of 1962, in Light of t... This thesis deals with the relevant law up to 30 September 2012.This thesis analyses the inter-relationship in particular between ...
To meet the legal requirement:To comply with the provisions of the Companies Act and Income Tax Act, it is necessary to charge depreciation. The causes of depreciation are as stated below: Use of Asset i.e., wear and tear:Due to constant use of the fixed assets there exist a normal we...