Assessment of persons leaving India. 174. (1) Notwithstanding anything contained in section 4, when it appears to the Assessing Officer that any individual may leave India during the current assessment year or shortly after its expiry and that he has no present intention of returning to India, the total income of such individual for the period from [...]
Section 174A: Assessment of association of persons or body of individuals or artificial juridical person formed for a particular event or purpose.
November 14, 2012 by Leave a Comment
Assessment of association of persons or body of individuals or artificial juridical person formed for a particular event or purpose. 174A. Notwithstanding anything contained in section 4, where it appears to the Assessing Officer that any association of persons or a body of individuals or an artificial juridical person, formed or established or incorporated for [...]
NRI Who is Citizen of India or PIO Need Not Report Acquisition of Immovable Property in India
February 19, 2012 by
RBI has issued Circulars A.P. (DIR SERIES 2011-12) CIRCULAR NO. 79, DATED 15-2-2012 by which the Form API which is declaration of immovable property acquired in India by a person resident outside India who has established in India a branch, office or other place of business, excluding a liaison office. It has been clarified that...
What is an AOP i.e Association of Person under Income Tax Act ?
October 15, 2011 by
AOP or Association of Person is defined as a person under section 2(31)(v ) of the Income Tax Act . However, what is an Association of Person itself is not defined . Therefore, understanding the meaning of this taxable entity is very important , because in many cases for deciding whether a receipt is chargeable...
Easy chart of deductions u/s 80C to 80U every individual should aware of !
January 11, 2011 by
The season of tax has arrived. Therefore , there is need for easy chart of all tax deduction u/s 80c to 80U for an Individual taxpayer?Under Income tax , deduction u/s 80C,80CCC, 80D, 80DD,80DDB,80G , 80GG, 80GGA, 80GGC , 80IAB , 80IB , 80IC , 80ID ,80IE , 80JJA , 80QQB ,80RRB , 80U are...
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