INDEX Income-tax Act, 1961-2017 INCOME-TAX ACT, 1961 [43 OF 1961] [AS AMENDED BY FINANCE ACT, 2018] An Act to consolidate and amend the law relating to income-tax and super-tax BE it enacted by Parliament in the Twelfth Year of the…
Category: Income Tax Law
INCOME-TAX COMPLIANCE FOR NON-RESIDENTS PLANNING TO SET UP BUSINESS IN INDIA AND RESIDENTS DEALING WITH THEM
Essential Provisions under Income Tax Act 1961-2018 S. No. Section Particulars 1. 2 Definitions 2. 4 Charge of income-tax. 3. 5 Scope of total income. 4. 6 Residence in India. 5. 7 Income deemed to be received in India 6.…
Tax Rates for the Assessment Years of 2018-19 & 2019-20
Income-tax Act, 1961-2018 Tax Rates 1. In case of an Individual (resident or non-resident) or HUF or Association of Person or Body of Individual or any other artificial juridical person Assessment Year 2018-19 Taxable income Tax Rate Up to Rs. 2,50,000…
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The Karta of a Hindu undivided family earned remuneration as a managing director and fees as a director from a bank
Syllabus: Wherever remuneration was earned by a member of the family for personal services rendered, the said remuneration would belong to and be assessable in the hands of the individual irrespective of the fact whether or not the aid of…
Income- tax Act 1922 [ Indian]
The Act now repealed Section 5 of the Act, on the true construction of which depends the decision of the appeal is in these terms: “This Act shall apply to every business of which any part of the profits made…
Interest payable on offshore Rupee Bonds by Indian entities to be exempted from Income Tax
September 17, 2018 : The Ministry of finance Monday exempted from income tax the interest payable on rupee-denominated bonds issued outside India by a company or a trust to a non-resident or a foreign company, a move aimed at increasing dollar inflow. The interest would be exempt on rupee-denominated bond issued outside India during the period from September 17, 2018, to March 31, 2019, the Finance Ministry said in a statement. As per I-T law, interest payable by an Indian company or a business trust to a non-resident, including a foreign company, on rupee-denominated bond issued outside India before the July 1, 2020, was liable for concessional rate of tax of 5 percent.
Appeal and revision under Income Tax Act 1961
Section - 246 : Appealable orders Section - 246A : Appealable orders before Commissioner (Appeals) Section - 247 : Appeal by partner Section - 248 : Appeal by a person denying liability to deduct tax in certain cases Section -…