INCOME-TAX ACT (FIRST AMENDMENT) RULES, 2009 – IN SECTION OF RULE 40EAEJAZ AHMEDEmail thisPrint this
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 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...
So, let’s understand the list of various exemptions under Section 10 of the Income Tax Act, 1961 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 ...
(ii)oftheprovisotosub-clause ofclause(1A)anditem(b)ofsub-clause(iii)ofclause(14)ofsection2oftheIncome-taxAct,1961(43 of1961),andinsupersessionofthenotificationoftheGovernmentofIndiaintheerstwhileMinistryof Finance(DepartmentofRevenueandInsurance)No.S.O.77(E),datedFebruary6,1973(See[1973]89 ITR...
Income Tax Act has introduced a New Section, Section 206AA to bring the notified changes. As per this new section, any Deductor making a TDS eligible payment to a party, who has not provided PAN, should make TDS at a higher rate. ...
Section 80EEA of Income Tax Act 1961 amended by Finance Act 2022 and Income-tax Rules, 1962. Deduction of interest on house property loan.
Section 43 of Income Tax Act 1961 amended by Finance Act 2022 and Rules PGBP. Definitions of certain terms relevant to income from PGBP.
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 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...