Section 160 of the Income Tax Act (Canada)tax.network
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...
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.
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 9A(2) of Income Tax Act Notwithstanding anything contained insection 6, an eligible investment fund shall not be said to be resident in India for the purpose of that section merely because the eligible fund manager, undertaking fund management activities on its behalf, is situated in Ind...
Section 10 of the Income Tax Act allows a list of exemptions which are available to tax-payers, both salaried as well as non-salaried individuals. You can claim an exemption under Section 10 for different types of incomes that you earn in a financial year. Section 10 contains various ...
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...
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...
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(...
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 ...