Section 160 of the Income Tax Act (Canada)tax.network
Penalty on tax default under Section 412 of Income Tax Act 2025 is imposed in addition to arrears & interest, capped at tax due, with relief for valid reasons or reduced tax.
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.
Thus, different subsections of Section 10 allow different types of exemptions for different types of assessees. So, let’s understand the list of various exemptions under Section 10 of the Income Tax Act, 1961 Exemption under Section 10 (1) on agricultural income If you earn any type of ...
In a private letter ruling (PLR), the IRS held that an employee, who resigned as the corporation's president and CEO to become a senior advisor, was not a covered employee under Section 162(m) because the employee was not an executive officer on the last day of the tax year. However,...
Union Budget 2025: New Tax Regime Slab Rates What is the Provision Related to Section 87A of the Income Tax Act? Recalling history in a hurry, Section 87A was inserted in the Finance Act 2003, which has changed from time to time. The present law on rebate of tax entitles a tax rebate...
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.
clauses. There werenew tax rules amendmentsto the sub-section(1) of the section 12A of the Income-tax Act 1961. According to this new rule, all trusts or religious organizations or institutions that have been registered under section 12A or 12AA and have undertaken changes s...
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...
DEDUCTION OF TAX AT SOURCE INCOME-TAX DEDUCTION FROM SALARIES DURING THE FINANCIAL YEAR 2022-2023 income-tax as per Finance Act, 2022