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19 Initial and annual allowances for machinery or plant. 19A Allowances of 3 years or 2 years write‑off for machinery and plant, and 100% write‑off for computer, prescribed automation equipment and robot, etc. 19B Writing‑down allowances for intellectual property rights.
THE INCOME-TAX ACT, 1961 _____ ARRANGEMENT OF SECTIONS _____ CHAPTER I PRELIMINARY SECTIONS 1. Short title, extent and commencement. 2. Definitions. 3. “Previous year” defined. CHAPTER II BASIS OF CHARGE 4. Charge of income-tax. 5. Scope of total income. 5A. Apportionment of income between spouses governed by Portuguese Civil Code. 6 ...
An Act to consolidate and amend the law relating to income-tax and super-tax. The Income-tax Act, 1961 is the charging statute of Income Tax in India. It provides for levy, administration, collection and recovery of Income Tax.
The Income-tax Act, 1961. Schedule 1. THE FIRST SCHEDULE. Schedule 2. THE SECOND SCHEDULE. Schedule 3. THE THIRD SCHEDULE. Schedule 4. THE FOURTH SCHEDULE.
1 - Short Title. 2 - PART I - Income Tax. 2 - DIVISION A - Liability for Tax. 3 - DIVISION B - Computation of Income. 3 - Basic Rules. 5 - SUBDIVISION A - Income or Loss from an Office or Employment. 5 - Basic Rules. 6 - Inclusions. 8 - Deductions. 9 - SUBDIVISION B - Income or Loss from a Business or Property. 9 - Basic Rules. 12 - Inclusions.
The Income Tax Act of 1961 governs income tax legislation in India, along with the help of certain income tax rules, notifications, circulars, and judicial pronouncements, including tribunal judgments.
MRA THE INCOME TAX ACT 21995 * Please refer to endnotes at Appendix 1 Page 2 of 467 THE INCOME TAX ACT 1995 (Consolidated Version) ARRANGEMENT OF SECTIONS PART I - PRELIMINARY Section 1. Short title 2. Interpretation 3. Application of Act PART II - LIABILITY TO INCOME TAX 4. Imposition of tax 4A. Unexplained wealth 5. Derivation of income 6.
This Edition of the Income Tax Act, Cap. 332, has been revised up to and including 30 th November, 2019 and is printed under the authority of section 4 of the Laws Revision Act, Chapter 4.
INCOME-TAX ACT, 1961 * [43 OF 1961] [AS AMENDED BY FINANCE ACT, 2008] An Act to consolidate and amend the law relating to income-tax and super-tax BE it enacted by Parliament in the Twelfth Year of the Republic of India as follows :— CHAPTER I PRELIMINARY Short title, extent and commencement. 11. 2(1) This Act may be called the Income-tax Act ...
The Income Tax Act 1961 is the set of rules and regulations upon which the Income Tax Department levies, administers, collects and recovers taxes. It contains 298 sections, 23 chapters and several important provisions which contain all the aspects of taxation in India.