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    Lecture 2

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    Tai Sankio
    This document discusses important definitions used under the Indian Income Tax Act. It begins with recapping definitions from the previous lecture and then outlines the topics to be covered - important definitions under income tax. It proceeds to define 13 key terms used in income tax assessments, including agricultural income, assessee, average rate, block of assets, charitable purpose, child, fair market value, person, income, gross total income, total income, assessment year, and previous year.

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    Lecture 2

    Uploaded by

    Tai Sankio
    7 views7 pages
    This document discusses important definitions used under the Indian Income Tax Act. It begins with recapping definitions from the previous lecture and then outlines the topics to be covered - important definitions under income tax. It proceeds to define 13 key terms used in income tax assessments, including agricultural income, assessee, average rate, block of assets, charitable purpose, child, fair market value, person, income, gross total income, total income, assessment year, and previous year.

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    LECTURE 2(1)

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    This document discusses important definitions used under the Indian Income Tax Act. It begins with recapping definitions from the previous lecture and then outlines the topics to be covered - important definitions under income tax. It proceeds to define 13 key terms used in income tax assessments, including agricultural income, assessee, average rate, block of assets, charitable purpose, child, fair market value, person, income, gross total income, total income, assessment year, and previous year.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pptx, pdf, or txt
    7 views7 pages

    Lecture 2

    Uploaded by

    Tai Sankio
    This document discusses important definitions used under the Indian Income Tax Act. It begins with recapping definitions from the previous lecture and then outlines the topics to be covered - important definitions under income tax. It proceeds to define 13 key terms used in income tax assessments, including agricultural income, assessee, average rate, block of assets, charitable purpose, child, fair market value, person, income, gross total income, total income, assessment year, and previous year.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
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    Important Definition used under I.T.

    Act
    Lecture 2
    Recap from last lecture
    1. Introduction to Income Tax
    2. History of Income Tax
    3. Importance of Income Tax
    Topics to be covered today
    1. Important Definitions under Income
    tax
    Important Definitions:

    1.Agricultural income(U/S 2(1A))


    2.Assessee U/S 2(7)
    1.Ordinary assesse
    2.Representative
    3.Assessee in default
    3.Average rate U/S 2(.10)
    4.Block Of Assets U/S 2(11)
    5.Charitable Purpose U/S 2(15)
    6.Child U/S 2(15A)
    7.Fair market Value U/S 2(22)
    8.Person U/S 2(31)
    Important Definitions:

    9.Income U/S 2(24)


    10.Gross Total Income U/S 80B(5)
    11.Total Income U/S 2(45)
    12.Assessment Year U/S 2(9)
    13.Previous Year U/S 2(34)
    Summary
    1. Important Definitions under Income Tax
    Thank you

    Mr. Vijay Kumar


    School of Business management
    Shoolini University
    Village Bajhol, Solan (H.P)

    +91 9459033055(Mob No.)


    vijaykumar692@shooliniuniversity.com

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