SECTION 4 - CHARGE OF INCOME TAX
@*CS Siddharth Bumb. * (B.Com, CA Final, CS ) (5270 Points)
12 January 2012
srinivass
(CA Final)
(2466 Points)
Replied 12 January 2012
Thanks for sharing valuable info............
thanks
Sanket
(!..Live to Give..!)
(16427 Points)
Replied 12 January 2012
(1) Where any Central Act enacts that income-tax shall be charged for any assessment year at any rate or rates, income-tax at that rate or those rates shall be charged for that year in accordance with, and subject to the provisions (including provisions for the levy of additional income-tax) of, this Act in respect of the total income of the previous year of every person :
Provided that where by virtue of any provision of this Act income-tax is to be charged in respect of the income of a period other than the previous year, income-tax shall be charged accordingly.
(2) In respect of income chargeable under sub-section (1), income-tax shall be deducted at the source or paid in advance, where it is so deductible or payable under any provision of this Act.
CA Ruskin B
(Member)
(2602 Points)
Replied 12 January 2012
thank you for the post. i now realise if most of the posts in cci are like these knowledge sharing we dont feel that we are wasting our time. keep going.
CMA. CS. Sanjay Gupta
("PROUD TO BE AN INDIAN")
(114230 Points)
Replied 12 January 2012
Nice Post Siddharth...Keep it up.....
6 days Certification Course on GST Practical Return Filing Process