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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
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- --------------
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
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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