What is the difference between capital receipts and revenue receipts and discuss those test which are applied
From the income tax point of view it is necessary to know the difference between capital and reven…
From the income tax point of view it is necessary to know the difference between capital and reven…
IMPORTANCE OF DISTINCTION BETWEEN CAPITAL AND REVENUE :- While calculating the taxable income o…
INCOME FROM HOUSE PROPERTY :- Under the head of income from property rent is the second importan…
Provident Fund :- This fund is maintained by a govt. and private organizations for the benefit of the e…
1. Employee Case :- a) If an employee receives free medical treatment or hospitalization from t…
SALARY :- It is the first source which is given in the heads of income. It is chargeable to ta…
Heads Of Income :- There are different sources of income. Income of a person may be divided unde…
ROYALTIES :- According the income tax ordinance it means any amount paid or payable for : a. The use of any pa…
PERMANENT ESTABLISHMENT :- According to income tax law ordinance it means a place of business through which the…
DEPRECIABLE ASSET :- Income tax ordinance has defined this in these words “ Depreciable asset implies any tangi…
DIVIDEND :- The profit which is distributed among the shareholders or modarba certificate hold…
CAPITAL ASSET :- Any property held by any tax payer is called capital asset, it may be connect…