What is difference between income tax act and income tax rules?
Menu
Diff between it act and it rules
Replies (1)
In most simple words,
Name of Game eg. Chess is an ACT
How to play this game is called Rules.
Similarly Income Tax Act is a name and rules prescribes its procedures.
Act is passed by Parliament whereas Rules are made by Board (here CBDT).
Please note that Act is a wider term and any Rules can not go beyond the powers given in Act.
Recent Threads
- Whether GST applicable on Hardship Compensation pa
- ITC cannot be denied to Bona Fide Buyers for Suppl
- Unused ITC for Hotel after GST Change
- CA FINAL SPOM
- 44ad presumption of tax
- Friendly loan to blood relative?
- Tds penalty for in operative pans
- TDS on Property- 26QB filing Doubt
- HSN code for Exempted supplies
- HSN Summary of Outward Supplies (Sales and Advance
Related Threads
CAclubindia
