Are all receipts, i.e., capital and revenue receipts, charged to tax?
By IndianMoney , 3 weeks ago
IndianMoney
3 weeks ago
? Under the income tax law, all revenue receipts are taxable. They are tax exempt under exceptions. Whereas capital receipts are tax free, except when there is a special provision to tax them.
Trending Questions
Recent Questions
Related Questions
- What is meant by Income Tax ?
- Under how many heads the income of a taxpayer is classified?
- What is Gross total income?
- What is the Age for senior citizen and Super senior citizen????????
- What is a Direct Tax and Indirect Tax?
- Can I claim deduction for my personal and household expenditure while calculating my taxable income or profit? ?
