Section 4 of The Income Tax Act | Charge of Income-Tax

Here we will see Section 4 of The Income Tax Act. Charge of income–tax .— (1) Where any Central Act enacts that income–tax shall be charged for any assessment year at any rate or rates, income–tax at that rate or those rates shall be charged for that year in accordance with, and subject to the […]

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Section 3 of The Income Tax Act

Here we will see Section 3 of The Income Tax Act. “Previous year” defined.— For the purposes of this Act, “previous year” means the financial year immediately preceding the assessment year: Provided that, in the case of a business or profession newly set up, or a source of income newly coming into existence, in the […]

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Section 2 of The Income Tax Act

Here we will see Section 2 of The Income Tax Act. Definitions : In this Act, unless the context otherwise requires,— (1) “advance tax” means the advance tax payable in accordance with the provisions of Chapter XVII–C; (1A) “agricultural income” means— (a) any rent or revenue derived from land which is situated in India and […]

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Section 1 of The Income Tax Act

Here we will see Section 1 of The Income Tax Act. Short title, extent and commencement : (1) This Act may be called the Income–tax Act, 1961. (2) It extends to the whole of India. (3) Save as otherwise provided in this Act, it shall come into force on the 1st day of April, 1962.

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