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Articles: Income Tax Act 1961
Definition of words and phrases under the Income Tax Act, 1961   <<CLICK HERE TO READ ARTICLE

Argument that technically Black is absence of all colours hence it cannot be interpreted as a colour is not acceptable as ordinarily Black is understood to be a colour

Details of Various Legal Provisions- Digital Evidence   <<CLICK HERE TO READ ARTICLE

Details of Various Legal Provisions associated with Digital Evidence

Disclosure of information respecting assessees   <<CLICK HERE TO READ ARTICLE

Disclosure of information respecting assessees under the Income Tax Act, 1961


Provisions Specified Domestic Transactions

Expenses incurred to earn exempt income is not deductible   <<CLICK HERE TO READ ARTICLE

Chapter IV of the Income-tax Act, 1961 (the Act) deals with Computation of total income [section 14 to 59]. In computing total income various specified expenses are allowed by the Act including some provisions dealing with residuary expenses. Problems arise when an assessee deal with some income which is partly includible in total income and partly not. How to deal with composite expenses relatable to both category of income? How to deal with expenditure on income not includible in total income?   As the law was silent, various courts did not allow apportionment of expenditure artificially between taxable and non-taxable income by the revenue. To deal with this section 14A of the Act was inserted by the Finance Act, 2001 with retrospective effect from the date the Act came into force, i.e. 01/04/1962. 

Furnishing of Return of Income when - required/ not required/ not necessary   <<CLICK HERE TO READ ARTICLE

Furnishing of Return of Income when - required/not required /not necessary

How to identify AY from the date of effect of amended provisions   <<CLICK HERE TO READ ARTICLE

Whether there is any relevancy of assessment year to the amended provisions brought in from a date, if so, how to identify the relevant assessment year?

Latest Comments
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» Great Dada. So lucid and to the point. It gives so much more clarity, especially to those who are working as assessing officers. One of the most ch...
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