tax exemptions
Clubbing of Income Question 1.Write short note on the following:(a) Clubbing of Minor Child (Dec 2022, 5 marks) Descriptive Question Question 2.Explain the tax incidence in the case of a transfer of a let-out property, which is not revocable during the lifetime of the transferee. (Dec 2015, 3 marks)Answer:Section 62 of Income Tax Act, 1961 […]
Income, Which Do Not Form Part Of Total Income Question 1.Write a short note on the following:Provisions of Equalization levy as per the Finance Act. 2016. (June 2017, 5 marks)Answer:Provisions of equalization levy as per the Finance Act 2016:In terms of the recommendations of the committee on taxation of e-commerce constituted by the CBDT on […]
Basic Concepts of Income Tax Act Question 1.Write short note on Explain the term ax planning and tax evasion” (Dec 2021, 3 marks)Answer:Tax planning: Tax planning is a way to reduce tax liability by taking full advantages provided by the Act through various exemptions, deductions, rebates & relief. In other words, it is a way […]