Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
Registered societies returning income in the status of an association of persons or body of individuals are considered for normal tax rates where returned total income remains below the taxable limit. Application of the maximum marginal rate under section 167B is not warranted in those circumstances. Tax computation should therefore follow normal rates, and a return showing income below the taxable limit results in no tax liability.
Registered societies returning income in the status of an association of persons or body of individuals are considered for normal tax rates where returned total income remains below the taxable limit. Application of the maximum marginal rate under section 167B is not warranted in those circumstances. Tax computation should therefore follow normal rates, and a return showing income below the taxable limit results in no tax liability.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
