#03|INCOME DEEMED TO BE RECEIVED | Basics of Income Tax : AY 23-24 : Income Tax : Introduction : 3
I Income Deemed to be Received in India [Section 7]:
The following incomes shall be deemed to be received in India in the previous year even in the absence of actual receipt:
Contribution made by the employer to the recognized provident fund in excess of 12% of the salary of the employee;
Interest credited to the RPF of the employee which is in excess of 9.5% p.a.
Transfer balance from the unrecognized fund to a Recognised Provident Fund (It has been discussed in the Chapter on 'Income from Salaries');
The contribution made, by the Central Government or any other employer in the previous year, to the account of an employee under a notified contributory pension scheme referred to in section 80CCD.
Related Topics....
INCOME under Income Tax Act. 1956
Person [Section 2(31)] : Defination under I.Tax
Definition of INCOME inder Income Tax [ Section 2(24)]
Income Deemed To Be Received In India - under Income Tax Act. 1956. (Section 7)
Incomes Which Accrue Or Arise In India OR Are Deemed To Accrue Or Arise In India [Section 9]
Income Arising From Business Connection In India [Section 9(1)(i)] -
Assessment Year [Section 2(9)] : Definition under Income Tax Act.
Gross Total Income(GTI) [Section-80B(5)] : Defination under I.Tax
Income is Taxed in the same Year in which it is Earned
You may also like ...
___________________________________________________________________
Visit www.siddiquiclasses.com is for our Courses and Live Classes
what’s up at +919210161132 (for Course Related Query Only)
_____________________________________________________________________
_____________________________________________________________________
Visit www.siddiquiclasses.com for paid services of GST& income tax or call at
+91 9210161132
_____________________________________________________________________
Join our Courses:
(1) Income Tax Course:http://www.siddiquiclasses.com/detail...
(2) GST Course :http://www.siddiquiclasses.com/detail...
(3) Excel Course :http://www.siddiquiclasses.com/detail...
(4) BUSY Course :http://www.siddiquiclasses.com/detail...
(5) Tally Course :http://www.siddiquiclasses.com/detail...
(6) TDS Course :http://www.siddiquiclasses.com/detail...
(7) ESI/PF Course :http://www.siddiquiclasses.com/detail...
(8) HR/Payroll Course :http://www.siddiquiclasses.com/detail...
(9) Etc Course Cont :9210161132
__________________________________________________________________________________
Connect with us:
Advance Course Training Course
For More Details Log on / sssoftwareandservices
and Call - +91 9210161132
Mail us - [email protected]
INSTAGRAM= / shahrukh_siddique07
FACEBOOK = / shahrukh.siddque.1
Website=http://www.siddiquiclasses.com/