Section 10(39) of the Income-tax Act, 1961 Exemptions NotifirajivEmail thisPrint this
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 43 of Income Tax Act 1961 amended by Finance Act 2022 and Rules PGBP. Definitions of certain terms relevant to income from PGBP.
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 your Form 16. Recently the government gave it a final nod to the proposed amendment under section 192 of Income-Tax Act, 1961 pertaining to...
3. Taxability Unexplained Cash Credits are chargeable to tax u/s 115BBE of the Income Tax Act, 1961 at the rate of 60% plus surcharge plus Cess that comes to overall 78% that too without deduction of any expenses. The real and main purpose of introducing this provision is to charge the...
Exemption under Section 10 (1) on agricultural income If you earn any type of agricultural income in a financial year, such an income would be exempted from tax. Agricultural income, as defined under Section 2 (1A) of the Income Tax Act, 1961, would include the following types of incomes...
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...
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.
3. Section 192 of the Income-tax Act, 1961: Broad scheme of Tax Deduction at Source from “Salaries” 3.1 Method of Tax Calculation 3.2 Payment of Tax on Perquisites by Employer 3.3 Computation of Average Income Tax 3.4 Salary from more than one employer ...
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...