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5 Cards in this Set
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- Back
- 3rd side (hint)
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AMT applicable to all assessees |
- all persons claiming profit linked deduction - other than 80p, 10AA, 35AD - Applicable to I, H, A, B ( I or N), A - Adjusted TI- exceeds 20 lakhs |
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Residential Status + Taxability u.s. 9 |
Basic Condition * 182 * 60 + 365 in 4 py Additional Conditions * Resident in 2 out of 10 py * In India for 730 days in 7 Years Section 9 - a. Received or deemed to be received in India - b. Accrue or arises or deemed in India - c. Is different for all * ROR- all accrue or arise outside India *RNOR- accrue or arise outside india but controlled frm India or profession set up in India *NR- -------------- |
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Section 115BBA |
* Prize money + Article in Newspaper + TV Ad..Taxable * No expenditure is allowed * Rate is 20% + 3% Not required to file return if:- * Income only 115BBA; & * Tax deducted XVII-B |
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Non-Resident sportsmen won a prize frm horse races..what are the repercussions if he also has income 115BBA Also, if he is a Match Referee what is ur answer?? |
* Sportsmen- Normal Income u.s.115BBA @ 20 and for Horse Races 115BB @30...He has to file return of income!! * Referee- Is not a sportsmen hence, normally taxable except 115BBA..i.e. 115BB taxation and Slab rate for normal taxation..2.5, 5, 8..plus cess |
* Referee- Indcom v. CIT(TDS) 2011 Calcutta High Court |
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