Determination of tax where non-taxable income is included: deduction equals income-tax at average rate on that amount. Section 190 provides that when total income includes any amount on which no income-tax is payable under the Act, the assessee is entitled to a deduction ... Summary
Determination of tax where non-taxable income is included: deduction equals income-tax at average rate on that amount.
Section 190 provides that when total income includes any amount on which no income-tax is payable under the Act, the assessee is entitled to a deduction from the income-tax chargeable on total income equal to the income-tax calculated at the average rate of income-tax on that non-taxable amount.
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