Taxation
Section 44AF Special Provisions for Computing Profits and Gains of Retail Business
Sub Section 01- In the case of an assessee engaged in retail trade of any goods or merchandise, regardless of anything to the contrary contained in sections 28 to 43C, a sum equal to 5% of the total turnover on account of such business in the previous year, or, as the case may be, a […]
Yashika Thakran
December 15, 2023 at 12:13 PM
Section 33AB of Income Tax Act, 1961: Development account of Tea, Coffee and Rubber
An amount deposited into a ‘Deposit Account’ or ‘Special Account’ for the utilization of the same for the specified purpose is allowed as a deduction under section 33AB. A deduction under section 33AB of the Income Tax Act is available to an assessee carrying on a business in India of growing and manufacturing tea, coffee, […]
Jain Saloni
October 28, 2022 at 07:24 AM
Section 33ABA of income Tax Act, 1961: Site restoration Fund
#incometax #incometaxlaws #deduction #section80C #specialcompanies #incometaxact1961 #taxation The Site Restoration Fund Section 33ABA and Rule 5AD are applicable to all assessees or taxpayers engaged in the business of: prospecting for petroleum or natural gas; extraction or production of petroleum or natural gas; or both in India. The Central Government has entered into an agreement with […]
Harshit Jain
October 25, 2022 at 01:04 PM