Section 12M of the Income Tax Act No. 58 of 1962 allows a normal tax deduction for employers who pay the post-retirement medical contributions by way of lump sum payments on behalf of retired employees. Although a full deduction is granted to the employer for a contribution in terms of ...
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...
Round-Up Of 1984 Tax Cases 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 - 《Jour...
Section 80EEA(3) of Income Tax Act The deduction under sub-section (1) shall be subject to the following conditions, namely:— (i) the loan has been sanctioned by the financial institution during the period beginning on the 1st day of April, 2019 and ending on the31st day of March, 20...
The amount furnished in the deposit account or some specified account to utilize the amount for the particular period is permitted as a deduction under section 33AB. Beneath section 33AB of the Income Tax Act, the deduction is open to taxpayers who are engaged in businesses in India like ...
UNDER SECTION 192 OF THE INCOME-TAX ACT, 1961 DURING THE FINANCIAL YEAR 2022-23 CIRCULAR NO. 24/2022 NEW DELHI, the 07th December, 2022 Table of Contents 1. Definition of “salary”, “perquisite” and “profit in lieu of salary” (section 17) ...
英语翻译This notice constitutes the certificate required the Income Tax Section 44 of the Income Tax Act and should be carefully preserved as only this original wil be accepted by the income tax authorities in connection with any claim for allowa
Section 9A(3) of Income Tax Act The eligible investment fund referred to in sub-section (1), means a fund established or incorporated or registered outside India, which collects funds from its members for investing it for their benefit and fulfils the following conditions, namely:— ...
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. ...
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.