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,
<br/>Income-taxAct,1961:Notificationunderundersection2(1A)(c),poviso,clause(ii)(B)and<br/>section2(14)(iii)(b);Urbanisationofareas<br/>Whereasadraftnotificationwasp..
Section 120 (1) and (2) of the Income-tax Act, 1961 - IncomerajivEmail thisPrint this
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 yo...</p>
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...
Section 43 of Income Tax Act 1961 amended by Finance Act 2022 and Rules PGBP. Definitions of certain terms relevant to income from PGBP.
Chapter XIV(Sections139to158) of the Income Tax Act 1961 deals with the provisions related to procedure for assessment. Section 143 of IT Act 1961-2022 provides for assessment. Recently, we have discussed in detailsection 142B(Faceless Inquiry or Valuation) of IT Act 1961. ...
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) ...
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...
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...