What is the need of income tax rules
Atharv Sankliya (1354 Points)
18 February 2022
what is the need of income tax rules , why this rules are not given in income tax Act ??
4 Replies
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 19 February 2022
Those rules are based on the latest live incidents.But the act can't change every day.
It will be included through finance act
It will be included through finance act
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 20 February 2022
Income Tax Act , 1961 is bare act , Rules , circulars and latest amendments are implemented through Finance Act
Himanshu Singh
(77 Points)
Replied 22 February 2022
Rules give clear idea about forms applicable, formulas, calculation and other procedural aspects
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