https://www.taxtmi.com/article/detailed?id=1818 Liability to pay income tax is founded on the Act's charging provisions, which determine who is taxable by reference to their income; assessment merely quantifies a charge already created and recovery mechanisms (including deduction at source and advance payment) implement collection. The statutory concept of income is broad and elastic, so chargeability covers earnings, profits or gains from any source, while eligibility to be charged is distinct from liability to pay, which depends on computation under the Act and rules. en-us Mon, 16 Jul 2012 12:51:24 +0530 Mon, 16 Jul 2012 12:51:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1818 Liability to pay income tax is founded on the Act's charging provisions, which determine who is taxable by reference to their income; assessment merely quantifies a charge already created and recovery mechanisms (including deduction at source and advance payment) implement collection. The statutory concept of income is broad and elastic, so chargeability covers earnings, profits or gains from any source, while eligibility to be charged is distinct from liability to pay, which depends on computation under the Act and rules. Articles Income Tax Mon, 16 Jul 2012 12:51:24 +0530 https://www.taxtmi.com/article/detailed?id=1818