Page 1. AVOIDANCE OF TAXATION: SECTION 260 OF THE INCOME TAXASSESSMENT ACT By DENIS F. DALTON* [Section 260 is a provision aimed atpreventing the avoidance of income tax. In this article, the writer considersDaltonDenis Fmelb.u.l.rev...
There was a great need and importance for introducing the provisions of section 68 under the income tax act, 1961 to safeguard and protect the interest of revenue, as assessee was engaged in harmful tax practices to evade tax in the form of Black Money,
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...
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. Though, there are certain restrictions to a specified person and to the specified scenarios ...
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 43 of Income Tax Act 1961 amended by Finance Act 2022 and Rules PGBP. Definitions of certain terms relevant to income from PGBP.
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(...
Section 9A(6) of Income Tax Act Nothing contained in this section shall apply to exclude any income from the total income of the eligible investment fund, which would have been so included irrespective of whether the activity of the eligible fund manager constituted the business connection in Ind...
Follow section 194O of the income tax act to avoid penalties when starting an e-commerce business. This article discusses TDS on e-commerce payments in detail.
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...