Income from business: separate businesses computed independently and post discontinuance receipts taxed in year of receipt. Income from business is computed under a dedicated head for any business carried on during a financial year; distinct and separate businesses are computed ... Summary
Income from business: separate businesses computed independently and post discontinuance receipts taxed in year of receipt.
Income from business is computed under a dedicated head for any business carried on during a financial year; distinct and separate businesses are computed separately; receipts after discontinuance are treated as income of the recipient in the year of receipt and computed under the Income from business head.
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