Explain the term Income from other sources with examples or What are the allowable deductions from Income from other sources
Income From Other Sources :- Any taxable income which can not be included in the previous fiv…
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Define the term Capital gains and capital assets or What is the procedure of computing the capital gains also explain the deductions and exemptions
Capital Gains :- It is the fourth important source of income. Such income is chargeable u…
Explain the various types of depreciation allowances or Explain the conditions and rates regarding the depreciation 1. Initial depreciation 2. Normal depreciation
Initial allowances for depreciation :- One person can avail this allowance if the fulfills …
Explain the term depreciation or Discuss those conditions which are laid down under the ordinance for depreciation allowance
Depreciation :- A decrease in the value of asset through wear and tear is called depreciatio…
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 betwe…
Why the distinction between capital and revenue is considered to be vital importance or Difference between capital and revenue expenditure
IMPORTANCE OF DISTINCTION BETWEEN CAPITAL AND REVENUE :- While calculating …
Explain the term income from house property and how you will compute the rent of the house property also explain the deductions allowed in the income tax law
INCOME FROM HOUSE PROPERTY :- Under the head of income from property rent is…
Define provident fund and explain various kinds and their working system
Provident Fund :- This fund is maintained by a govt. and private organizations for …
Explain the term Salary and write the allowances and deductions which are given under this head or discuss the main features of Salary
SALARY :- It is the first source which is given in the heads of income. It…
Discuss the various kinds of income or Sources of income or Why the classification of income is necessary
Heads Of Income :- There are different sources of income. Income of a person…