https://www.taxtmi.com/article/detailed?id=6678 Budget tax measures that deem capital receipts to be income must be reviewed for constitutional validity; deeming clauses treating grants, subsidies, voluntary contributions, employee-accounting entries and gifts as taxable income risk exceeding Parliament's power to tax income unless there is an actual element of profit or gain. Courts can invalidate such provisions when challenged, so the author urges omission or amendment of suspect Budget 2016 provisions and greater legislative care to preserve constitutional limits on taxation. en-us Fri, 12 Feb 2016 07:46:34 +0530 Fri, 12 Feb 2016 07:46:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6678 Budget tax measures that deem capital receipts to be income must be reviewed for constitutional validity; deeming clauses treating grants, subsidies, voluntary contributions, employee-accounting entries and gifts as taxable income risk exceeding Parliament's power to tax income unless there is an actual element of profit or gain. Courts can invalidate such provisions when challenged, so the author urges omission or amendment of suspect Budget 2016 provisions and greater legislative care to preserve constitutional limits on taxation. Articles Budget - Tax Proposals Fri, 12 Feb 2016 07:46:34 +0530 https://www.taxtmi.com/article/detailed?id=6678