Basic Concept 4 - Definition of income | Income [Section 2(24)]

2.4 Income [Section 2(24)] (1) Definition of Income The definition of income as per the Income-tax Act, 1961 begins with the words “Income i...

Basic Concept (3)- Important Defination

In order to understand the provisions of the Act, one must have a thorough knowledge of the meanings of certain key terms like ‘person’, ‘as...

Basic Concept (2) Levy Of Income Tax - Module 1

 Levy of Income-tax Income-tax is a tax levied on the total income of the previous year of every person [Section 4] .  A person includes an ...

Basic Concept (1)- Module 1

Components Of Income Tax Law What is the Meaning of tax? 1.1 कर का क्या अर्थ है? Let us begin by understanding the meaning of tax. Taxes are...