Anonymous donations to be taxed in certain cases (1) Where the total income of an assessee, being a person in receipt of income on behalf of any university or other educational institution referred to in sub-clause (iiiad) or sub-clause (vi) or any hospital or other institution referred to in sub-clause (iiiae) or sub-clause (via) or […]

Tax on income of certain resident co-operative societies (1) Notwithstanding anything contained in this Act but subject to the provisions of this Chapter, 76[other than those mentioned under section 115BAE,] the income-tax payable in respect of the total income of a person, being a co-operative society resident in India, for any previous year relevant to the assessment year

Tax on income of individuals 72[and Hindu undivided family] (1) Notwithstanding anything contained in this Act but subject to the provisions of this Chapter, the income-tax payable in respect of the total income of a person, being an individual or a Hindu undivided family, for any previous year relevant to the assessment year beginning on

Tax on income of new manufacturing domestic companies Section 115BAB of the Income Tax Act, 1961 outlines special tax provisions for domestic companies. Here’s a simplified explanation of the key points: Section 115BAB: Special Tax Rates for New Manufacturing Companies 1. Tax Rates: Domestic companies can choose to be taxed at a lower rate of

Tax on income of certain domestic companies (1) Notwithstanding anything contained in this Act but subject to the provisions of this Chapter, other than those mentioned under section 115BA and section 115BAB, the income-tax payable in respect of the total income of a person, being a domestic company, for any previous year relevant to the assessment year beginning

Tax on income of certain manufacturing domestic companies  (1) Notwithstanding anything contained in this Act but subject to the other provisions of this Chapter, other than those mentioned under section 115BAA and section 115BAB, the income-tax payable in respect of the total income of a person, being a domestic company, for any previous year relevant to the assessment

Tax on profits and gains of life insurance business (1) Where the total income of an assessee includes any profits and gains from life insurance business, the income-tax payable shall be the aggregate of—  (i) the amount of income-tax calculated on the amount of profits and gains of the life insurance business included in the

Tax on income of Foreign Institutional Investors from securities or capital gains arising from their transfer (1) Where the total income of a specified fund or Foreign Institutional Investor includes— (a) income received in respect of securities (other than units referred to in section 115AB); or (b) income by way of short-term or long-term capital gains

Tax on income from Global Depository Receipts purchased in foreign currency or capital gains arising from their transfer (1) Where the total income of an assessee, being an individual, who is a resident and an employee of an Indian company engaged in specified knowledge based industry or service, or an employee of its subsidiary engaged

Tax on income from bonds or Global Depository Receipts purchased in foreign currency or capital gains arising from their transfer (1) Where the total income of an assessee, being a non-resident, includes— (a) income by way of interest on bonds of an Indian company issued in accordance with such scheme as the Central Government may,