Casual Income www.lawtool.net 1 ) Any receipt which is of a casual and non-recurring nature is casual income. In other words, casual...

Assessment Year & Previous year www.lawtool.net Meaning of Assessment Year [ Section 2 ( 9 ) ] Assessment Year means the period of 12...

CLUBBING OF INCOME UNDER INCOME TAX ACT 1961 TaxAct,1961-Section60 to 64 Clubbing in the case of Section 60- Transfer of Income without...

Meaning of Assessée ( Section 2 ( 7 ) In common parlance, every tax-payer is an assessee. The word ' assessee ' has been defined in sec ....

AGRICULTURAL INCOME Section 2 ( 1 ) Agricultural Income Means : ( a ) any rent or revenue derived from land which is situated in India...

Capital Receipts vs. Revenue Receipts www.lawtool.net Capital receipts are to be charged to tax under the head capital gains and revenue...