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...
Income-taxAct,1961:Notificationunderundersection2(1A)(c),poviso,clause(ii)(B)and section2(14)(iii)(b);Urbanisationofareas WhereasadraftnotificationwaspublishedbytheCentralGovernmentinexerciseofthepowersconferred byitem(B)ofclause(ii)oftheprovisotosub-clause(c)ofclause(1A),anditem(b)ofsub-clause(...
As per section 192(1) of the Act, any person responsible for paying any income chargeable under the head “Salaries” shall, at the time of payment, deduct income-tax on the amount payable at the average rate of income-tax computed on the basis of the rat...
All about Deduction under Section 80G of the Income Tax Act,raj kumar makkad
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.
So, the parameters for the eligibility of this rebate under section 87A of the Income Tax Act 1961 are mentioned below in steps? Step 1: To begin with, the income to be taken into consideration for the access to a rebate under section 87A is arrived at after setting off the ‘brought...
Deepak Rajan & Ors., the court considered the provisions of Section 339 of the Act and found that a person was subject to punishment under Section 339 if they intentionally misappropriated bank funds for their own benefit while causing harm to others. The aforementioned decisions make it clear...
6/2018 F No Pro DGIT S CPC TDS Notification 2018 19 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income tax Systems New Delhi N
If the claim for credit or refund relates to an overpayment of tax imposed by subtitle A on account of the recapture, under section 4045 of the Employee Retirement Income Security Act of 1974, of amounts included in income for a prior taxable year, the 3-year period of limitation ...
A wide variety of medical and childcare expenses are eligible for reimbursement under a Section 125 plan. Dozens of eligible expenses for medical items and treatments can be reimbursed. Eligible expenses include acupuncture, treatment for alcoholism, ambulance services, birth control, chiropractic service...