Web(i)in the case of dividends,2or interest on securities], any reasonable sum paid by way of commission or remuneration to a banker or any other person for the purpose of realising such dividend3or interest] on behalf of the assessee; WebPreamble: An Act to make provision for the imposition of an Income Tax Long Title: Short Title: The Income Tax Act Operational Date: January 1, 1955 Number: of 1955 Last Amendment: January 1, 2013 Download: Click here to download Legal Areas Keywords
Income Tax Act 21 of 1994 South African Government
WebMay 29, 2024 · The Finance Act 2024 introduced section 50CA and clause (x) to section 56 (2) in the Income Tax Act, 1961 (‘IT Act’) w.e.f. 1 April, 2024, to deal with specified … WebDec 20, 2024 · Several start-ups have raised concerns over taxation of angel funds under Section 56 of the Income Tax Act, which provides for taxation of funds received by an entity great west train map
Section 56(1) in The Income- Tax Act, 1995 - Indian Kanoon
WebThe Finance Act, 2024 had brought into force two major amendments in the Income Tax Act: - Insertion of clause (x) in section 56(2) to provide that receipt of money or specified property by any person for inadequate consideration or without consideration from any person shall be subject to tax. WebDec 26, 2024 · Section 56 (2) (vii) is applicable to receipts by Individuals/ HUF for the period commencing 1 October 2009 and ending 31 March 2024. With effect from 1 April 2024, the Finance Act, 2024 has inserted a new section 56 (2) (X): Purchase/Gift received by … WebARRANGEMENT OF ACT Articles Part I. Preliminary 1-3 Part II. Imposition of Income Tax 4-11 Part III. Exemptions 12-13 Part IV. Deductions 14-26 Part V. Special Provisions 27-52 Part VI. Personal Deductions 53-55 Part VII. Rate of Tax 56 Part VIII. Tax Rebate 57-58 Part IX. Persons Assessable 59-73 Part X. Relief of Double Taxation 74-95 Part XI. florida registered nurse license renewal fee