Lncome TamLaw Omd Pra ctËco

UNIT-1

Jmcome a peQwGU yeat o an AAeee taed dung

the nent auing aLeMmenE yea
am indiidual
aHindu wndiided qamy

Need
1) Reenu (1enehatitan ) Koqulaty Punpoes
1) HOa0Hn ana Ehuioh wont
3) ublie Tntahuthe 3) Adiminigtaise Cet
u)cocialseices
s) Economic tability
Sstuat
 Date.........
FeatuN
2) Taxable EntikeA ) Nitahalding Mechonis
)Compiàme and Ertoremet
3) Taeable Dueâme
uqal Framwk
s)
Eemphen and
6) Yey ueAsm@ant Credi

SReidoAntial cnaHges s) MetnDd AcCounth

3) Poiodichy
u) Tanabu enty
3Deduciens ad EnemHênd

>INCOME TAY ACT 196|

It ç a emprehense statut that govtms nlme tamin
Cmdia. Ehacted to conuoidae and amend the law nelatng
to nco tam and cuAH ta the ACt camme nto Mt n
puil L,1962

"solaies

Capital cyin
 Deducien
Act pauonida numehous deducibna Cud sectitvs ike s0c, 0D e)
twhich alaw kapatu ortduce their caAble Ancewna by

Amondmnt
Dired Tanes ode CDTC)
" Finane Act
" CH00d and seHulcu Tan CiHST)

" COvDI9 Pandemic

DetHminatien e Reidential ctatue n India

ae 'n cndia yo at last 182 day dusihg FY

oanhae baom in tandia qex a total o 365day, duning

2) Redent and Ordinaiy Resident CROR)

SAel
 Residlmt (RNOR
3 Residant but Nb Ordirai
I a residumt indivÀduG dunet
tbnáutbu, Hy ahg cnuidsHoa RNDR.
’Residetial status cOimpanicl

nOn-ridut

Reident Non-Redemt

Orainay

) Tan Liability Datthrinatin

2) 4enien pOwale Tamaten

Eate and heitaanl Plannìne

Salral
 0TAL INCONE

Sope.

Capiral ainy

"Reident
" Nn-Reidt
" Resides but Net Driraiy Reidnt
3) ÞeduiÝne and Engmpib

howse ent alo0ance ete

>HEAbs OE TLNCO NE
)Tnome yom saaxied
AlooaMces may be uy tagabl, panty abl ot
e can, teain et
"Parquici - benet amemities
*Ketirenent Beneiti - penien, gatutie and Provident

2) Tnconme fyaimn House Pseopty

- bross Annual Value CCHÀN)
" NO Annual Yalue CNAV)- calclatkA by deducting the
muniipal tames paid tem Hhe cH AV
.Deductiêm stamdand aeductM 0 30L. NA V o
repain.

o1 ae buine ae deductible, includina ages,rent

depreciatenamd oroe cperatimal eeupenses
buiinese and protesina tD cimpli compliame byt
taning în Dme at aprtdehired aR em total tuHMDVen oh

cehtah threholds Ah twinveh ön MLene

) capital oain
. short ttn capital nains CSTCot) ran yeara
taned at horoal rotes
LOng -Rtm Capita bains CLTCU)-9ins psem aseh batd
Lorgen han the dunarin Ynantismed Blotve bent yan a

5) ncome hon Dhey [ohces

On- taaabla obavt caxtain

thieshDdAapending nt

Lotthy , caane shaa winninga - taeA at a special ak

>INCOME EYEMPTED FROM TAX

DhouicuHal Inome Csetism 10c)
2) Recoink om Htindu Ondidod Eamaily CHOE) EStatt
Lseetien 100)1
) Leave Trouel conesian CSeeten Io(5)]

n) sLADlanhips Sectiey 10.C14)1

Spoat
 Date ..... ....

3) Tncome em Foeg soverOiga Fuda Seea I0(23t