In case where the parents are non residents and the minor child is a resident derving income which accrues or arises outside India , the clubbing of such income does not arise as provisions of Section 64(1A) can not override the provisions of Sec ..
Pension:- It is a regular monthly amount paid by the employer to a former employee directly as a result of past employer - employee relationsip. Taxability Since pension is received by the employee, ht esame is taxable under the head "Income Fro ..
Delayed crediting o Delayed crediting of TDS punishable In a judgment that is sure to send shock waves down India Inc, the Supreme Court has held that defaulting companies and their directors can be prosecuted for delayed crediting of TDS. One compa ..
BASIC PRINCIPLES OF INCOME-TAX LAWBy: Justice R.K.Abichandani1.Constitutional Provisions : The Constitution of India vests the Parliament with plenary legislative powers to impose taxes on matters specifically enumerated in the Union List and all the ..
ASSESSMENT OF FOOTWEARS IN CENTRAL EXCISE:1. Footwear falls in Chapter 64 of the Central Excise Tariff and attracts a tariff rate of duty of 14% ad velorem. Vide Notification No. 5/2006 dated 01.03.2006, as amended, serial no. 5, the effective ra ..
Under Income Tax act, Income tax is payable by every assessee at the rates fixed by the Financial Act every year. Every person who is deemed to be an assessee under any provision under Income Tax Act. ..
NEW STRUCTURE OF INCOME TAX MALE TAXPAYER ..
RELIEF to TAXPAYERS (without education surcharge) MALE TAXPAYER ..
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