Income Tax Act 1961 Ppt

All Sections Of Income Tax Act 1961 | PDF | Capital Gain | Tax Deduction

All Sections Of Income Tax Act 1961 | PDF | Capital Gain | Tax Deduction The current income tax act of 1961 governs income tax in india and has been amended over time. it details the taxation of various types of income for individuals and organizations. Where rebate of income tax for arrear salary received during the financial year is availed of u/s 89(1), the education cess is be added on the net income tax payable.

INCOME TAX ACT, 1961.ppt

INCOME TAX ACT, 1961.ppt The word income is of the widest amplitude and includes not merely what is received or what comes in by exploiting the use of the property but also that which can be converted into income 128 itr 315(sc). Sec 4 : income tax at the rates shall be charged for the year in accordance with, and subject to provisions of this act in respect of the total income of every person. An aggregate amount of gift or gifts received (whether in cash or in the form of property) exceeding rs. 50,000 in a previous year by an individual or hindu undivided family from non relatives shall be treated as income. Introduction to the income tax act 1961, its amendments, definitions of income, categories of assesses, and relevant terms. learn about gross total income, types of assesses, and assessment years.

INCOME TAX ACT, 1961.ppt

INCOME TAX ACT, 1961.ppt An aggregate amount of gift or gifts received (whether in cash or in the form of property) exceeding rs. 50,000 in a previous year by an individual or hindu undivided family from non relatives shall be treated as income. Introduction to the income tax act 1961, its amendments, definitions of income, categories of assesses, and relevant terms. learn about gross total income, types of assesses, and assessment years. Incometax act 1961 free download as powerpoint presentation (.ppt / .pptx), pdf file (.pdf), text file (.txt) or view presentation slides online. The income tax act of 1961 is the foundation of india's taxation system, applicable to individuals, firms, and corporations. this comprehensive legislation evolved from earlier acts to address economic needs and align with global standards. It also summarizes the different sources of income and tax rates. the document is presented by girish m.c., an assistant professor of commerce who provides an overview of concepts to help readers understand india's income tax system at a high level. download as a pptx, pdf or view online for free. Overview of provisions of section 56 (2) (vii): section 2 ( 24 ) ( xv ) of the act, defining income, includes therein any sum of money or value of property referred to in section 56 (2) ( vii )/ ( viia ) of the act.

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