It is said that, thare is some thing reaison / fact / concept behind each provision / sec. / explation / proviso of act dear friends I interested to know forrowing,
> Why Long Term capital gain arising from slale of share & units is exempted u/s 10 (38) where as Short
term capital gain on these is taxable?
> what is purpose behind Sec. 45(3) & Sec. 45(4)?
> why Co. & Firm is require to complusory filling ROI whather thare is profit or loss?
> why Deemed income (sec. 7) & Deemed profit (sec. 41) is tax although we not receive such income /
profit in cash, how we wil pay tax?
> why commuted pension / grauity / Ieave encashment receive by Govt. employees is fully exempted?
since the salary is being paid by the govt and there is a pay scale to each and every category of employee and the pay scale is very less in comaprison to thwe private job prospect.and deduction of tax from salary by the govt is itself the recovery of salary to by the govt.so its malpractice by the govt to deduct the salary.
that is why the govt salary is exempt for the benefits only and not on the basic salary.
CAclubindia
