Section 4a Income Tax Act
Under this new provision of the Income Tax Act a taxpayer who has income that is chargeable under the head Salaries should allow deduction of Rs40 000 or the salary amount whichever is less for the computation of the taxable income. I amounts paid in consideration of services rendered in connection with the use of property or rights belonging to or the installation or operation of any plant machinery or other apparatus purchased from such person. Is It Mandatory To Declare Foreign Bank Accounts And Assets In Income Tax Return By Nri Ii amounts paid in consideration of technical advice. . 5 Section 1394a Income Tax Return of Charitable and Religious Trusts. Section 1395 is specifically applicable to cases of Omissions and Wrong Statements and not meant for Concealment or False Statements. A Division Bench of this court in Commissioner of Income Tax V. The 3 categories of income of non-residents which are caught under Sectio...