In this article, we will discuss Defective Return u/s 139(9) i.e. when a return is said to be defective of the Income Tax Act, 1961.
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Tag: Income Tax Law and Practice
Rent free Accommodation provided by the Employer [Sec. 17(2) & Rule 3(1)]
In this article, we will discuss the Valuation of Rent free accommodation provided by the employer [Section 17(2) & Rule 3(1)] of the Income Tax Act, 1961.
Read MoreIncome from assets transferred to daughter in law u/s 64 (1) (vi) | Income tax Act, 1961
In this article, we will discuss the provisions relating to Income from assets transferred to daughter-in-law or son’s wife.
Read MoreTaxable Value of Interest free loan / Concessional Loan | Income Tax Act, 1961
In this article, we will discuss the taxable value of Interest free loan/ concessional loan u/s 3(7)(i) of the Income Tax Act, 1961.
Read MoreAdditional Depreciation on New Machinery or Plant | Income Tax Act, 1961
In this article, we will discuss the Provisions applicable for Additional depreciation on new machinery or plant under section 32 of the Income tax Act, 1961.
Read MoreEntertainment Allowance under Section 16(ii) | Income Tax Act, 1961
In this article, we will discuss the Entertainment Allowance under section 16(ii) of the Income Tax Act, 1961.
Read MoreDeduction under Section 80E | Income Tax Act, 1961
In this article, we will discuss the Deduction under Section 80E in respect of repayment of loan taken for higher education.
Read MoreOwning and Maintaining Race-Horses u/s 74 A (3)
In this article, we will discuss what are the provisions relating to carry forward as well as set off of losses from owning and maintaining race-horses u/s 74A(3).
Read MoreProfits in lieu of salary
In this article, we will discuss the items that are treated as ‘Profits in lieu of salary’. ‘Profits in lieu of salary’ are taxable as salary under section 17(1). According to section 17(3), ‘Profits in lieu of salary’ includes the following:
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