Income Tax : Q.1 Who is responsible to deduct tax u/s 194C? A.1. Any person responsible for paying any sum to any resident contractor for carry...
Income Tax : SECTION 50C – SPECIAL PROVISION FOR FULL VALUE OF CONSIDERATION IN CERTAIN CASES Applicability of Section 50C As per Sec 50C, wh...
Income Tax : 1. What is the test that determines land is agricultural land? The Gujrat HC in CIT v Siddhartha J. Desai 139 ITR 628 (Guj)(1983) ...
Income Tax : Any person, (other than individual or a Hindu undivided family) who is responsible for paying, to a resident, any income by way of...
Income Tax : When does income be taxed as Capital gain or Business income? When the transaction involves transfer of capital asset then that wi...
Section 68 of the Act – substantive provisions (post amendment by Finance Act 2012) – Where any sum is found credited in the books of an assessee maintained for any previous year, and the assessee offers no explanation about the nature and source thereof or the explanation offered by him is not, in the opinion of the Assessing Officer, satisfactory, the sum so credited may be charged to income-tax as the income of the assessee of that previous year.
