https://www.taxtmi.com/acts?id=11999 The Code charges income-tax primarily on the basis of residence, making residents liable on their total income worldwide and non-residents on income accruing or received in India; it defines residence, deemed accruals and receipts, classifies income into ordinary and special sources with five heads for ordinary income, prescribes detailed computation rules for business profits, capital allowances, capital gains and specified deductions, and establishes comprehensive compliance, transfer pricing, anti-avoidance and administrative mechanisms including audits, search and seizure, and delegated rule-making. en-us Fri, 17 Sep 2010 15:07:51 +0530 Fri, 17 Sep 2010 15:07:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=11999 The Code charges income-tax primarily on the basis of residence, making residents liable on their total income worldwide and non-residents on income accruing or received in India; it defines residence, deemed accruals and receipts, classifies income into ordinary and special sources with five heads for ordinary income, prescribes detailed computation rules for business profits, capital allowances, capital gains and specified deductions, and establishes comprehensive compliance, transfer pricing, anti-avoidance and administrative mechanisms including audits, search and seizure, and delegated rule-making. Act-Rules Bills Fri, 17 Sep 2010 15:07:51 +0530 https://www.taxtmi.com/acts?id=11999