Income Tax : Under Section 4 of the income tax act every person is chargeable to income tax in respect of his total income i.e. income, profits...
Service Tax : According to Section 69, every person liable to make payment of service tax or any other person notified by the central govt throu...
Under Section 4 of the income tax act every person is chargeable to income tax in respect of his total income i.e. income, profits & gains accruing or arising to, or received by him but subject to provisions of the Act, which are contained in Section 60-62 of the Act. Section 60-Transfer of income where there is no transfer of assets Section 60 runs as – All income arising to any person by virtue of a transfer whether revocable or not and whether effected before or after the commencement of this Act shall, where there is no transfer of the assets from which the income arises, be chargeable to income –tax as the income of the transferor and shall be included in his total income.
According to Section 69, every person liable to make payment of service tax or any other person notified by the central govt through a notification is required to get the registration under the service tax act .
