scope of income tax law
The historical of income tax dates back to 1860's when the British Government first levied income tax in India.thereafter the law amended in 1886, 1922 and 1961. The income tax act, 1961 as amended covers-
-The basis of charging income
-incomes exempt from income tax -computation of income under various heads
-clubbing of income
-setoff and carry forward of losses
-permissible deduction
- Rebates and relief
- Double taxation
-Determination of tax in certain special cases
-Non resident
- Presumptive taxation
- Income tax authorities and their powers
-Survey, search and seizure
- assessment procedure
-assessment of individuals,firms,companies,etc
- collection and recovery of tax
-Payment of advance tax
- refund of tax
- Advance rullings
-Appeal and revision,settlement commission
-Acquisition of immovable property
-Penalty
- prosecution
The historical of income tax dates back to 1860's when the British Government first levied income tax in India.thereafter the law amended in 1886, 1922 and 1961. The income tax act, 1961 as amended covers-
-The basis of charging income
-incomes exempt from income tax -computation of income under various heads
-clubbing of income
-setoff and carry forward of losses
-permissible deduction
- Rebates and relief
- Double taxation
-Determination of tax in certain special cases
-Non resident
- Presumptive taxation
- Income tax authorities and their powers
-Survey, search and seizure
- assessment procedure
-assessment of individuals,firms,companies,etc
- collection and recovery of tax
-Payment of advance tax
- refund of tax
- Advance rullings
-Appeal and revision,settlement commission
-Acquisition of immovable property
-Penalty
- prosecution