Association of persons or body of individuals or artificial juridical person formed for a particular event or purpose - Income Tax Bill, 2025 - Old Version
Association of persons or body of individuals or artificial juridical person formed for a particular event or purpose - Income Tax Bill, 2025 - Old Version
Remission of liability taxable: benefits from cessation or remission treated as income in the year they are obtained. The Bill extends the application of existing deduction rules used for computing business profits to income assessed under the specified head, and provides ... Summary
Remission of liability taxable: benefits from cessation or remission treated as income in the year they are obtained.
The Bill extends the application of existing deduction rules used for computing business profits to income assessed under the specified head, and provides that any benefit from remission or cessation of a liability for which a deduction was earlier allowed is taxable in the year the benefit is obtained.
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