Amended and updated notes on assessment section 143 of Income Tax Act 1961 as amended by the Finance Act 2022 and Income-tax Rules, 1962.
Section 13(7.1) of the Income Tax Act requires, generally speaking, that a taxpayer reduce the capital cost of a fixed asset by the amount of government assistance received by the taxpayer with respect to the asset. In two recent ... Parsons,B Robert - 《Journal of Canadian Petroleum Techn...
INCOME-TAX ACT (FIRST AMENDMENT) RULES, 2009 – IN SECTION OF RULE 40EAEJAZ AHMEDEmail thisPrint this
Section 192 of Income-Tax Act, 1961 deals with the Tax deducted at source from salary. TDS deducted from the salary will be ultimately reflected in yo...</p>
Section 80EEA of Income Tax Act 1961 amended by Finance Act 2022 and Income-tax Rules, 1962. Deduction of interest on house property loan.
Clubbing of Income as the term suggests, means adding the income of another person to the income of the person who is paying the tax. This term is explained under Section 64 of the Income Tax Act.
2. The Assessing Officer noticed during the course of scrutiny that this assessee had admitted NIL income in his return dt.26-09-2008. He therefore went by the assessee’s foregoing admission u/s.131 of the Act to make the impugned additional income addition of Rs.2.90 crores. ...
Section 33AB of the Income Tax Act, it elaborates the open provisions which control the deduction which is present. Deduction U/S 33AB of the IT Act Under section 33AB the taxpayer is involved in cultivating and manufacturing the tea or coffee or rubber in India is suitable to avail of...
1. Definition of “salary”, “perquisite” and “profit in lieu of salary” (section 17) 1.1 What is salary? 1.2 What is a Perquisite? 1.3 What is profit in lieu of salary ? 2. Rates of income-tax as per Finance Act, 2022
Section 125 plans offer employers a lot of tax-saving benefits. Employers save on theFederal Insurance Contributions Act (FICA)tax, theFederal Unemployment Tax Act (FUTA)tax, the State Unemployment Tax Act (SUTA) tax, and workers' compensation insurance premiums for each participant in the plan...