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...
Rebate on tax liability computed on total income extends to short-term capital gains taxed at special rates. The rebate provision does not distinguish between income taxed at normal rates and such gains, while the special-rate provision and the optional tax-regime provision contain no express exclusion. Consequently, inclusion of short-term capital gains in total income does not, by itself, prevent the taxpayer from claiming the rebate against tax payable on those gains.
Rebate on tax liability computed on total income extends to short-term capital gains taxed at special rates. The rebate provision does not distinguish between income taxed at normal rates and such gains, while the special-rate provision and the optional tax-regime provision contain no express exclusion. Consequently, inclusion of short-term capital gains in total income does not, by itself, prevent the taxpayer from claiming the rebate against tax payable on those gains.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
