lex-o-pedia
What is the concept of Income Taxable under the Income Tax Act, 1961?
The Income Tax Act, 1961, taxes income under five heads: salary, house property, business/profession, capital gains, and other sources. Income includes monetary and non-monetary forms, with provisions for deductions, exemptions, and adjustments to compute taxable income.
lex-o-pedia
What is the concept of Income Taxable under the Income Tax Act, 1961?
The Income Tax Act, 1961, taxes income under five heads: salary, house property, business/profession, capital gains, and other sources. Income includes monetary and non-monetary forms, with provisions for deductions, exemptions, and adjustments to compute taxable income.
lex-o-pedia
What is an overview of non-profit companies under the Companies Act, 2013?
Non-Profit Companies under Section 8 of the Companies Act, 2013, promote charitable objectives like education, social welfare, and environmental protection. They use profits solely for their aims, not dividends, and enjoy tax exemptions. Non-compliance can lead to penalties or dissolution.
