Income Tax

The following incomes shall be deemed to be received in the previous year: (i)  the annual accretion in the previous […]

(1) Where the husband and wife are governed by the system of community of property (known under the Portuguese Civil

(1) Subject to the provisions of this Act, the total income of any previous year of a person who is

(1) Where any Central Act enacts that income-tax shall be charged for any assessment year at any rate or rates,

For the purposes of this Act, “previous year” means the financial year immediately preceding the assessment year:  Provided that, in the

In this Act, unless the context otherwise requires— (1)  “Advance Tax” means the advance tax payable in accordance with the

(1) This Act may be called the Income-tax Act, 1961. (2) It extends to the whole of India. (3) Save

Tax rebate under section 87A provide for lower tax liability of an individual assessee, if the total income of an

Understand the Advance Tax: Advance tax means income tax should be paid in advance instead of lump sum payment at year end.

Rule 114E of Income Tax Rules, 1962, for furnishing Statement of Financial Transactions (SFT) came into force with effect from