Can we know how every provision in income tax has arose? How every provision's calculation criteria has been determined? Is there any link or available source?
Plz help me.....
Can we know how every provision in income tax has arose? How every provision's calculation criteria has been determined? Is there any link or available source?
Plz help me.....
CA Sandeep Kumar
(Audit Assistant)
(804 Points)
Replied 30 March 2011
https://indiabudget.nic.in/
Refer above link. There are budgets of various previous years. In that go to Memorandum and explanatory notes on amended provision/new proposal, etc.. It is very helpful to understand the logic as to why a new/amendment is brought into act.
As regards determination of tax slab is concerned, i think those are decisions of Ministry of Finance based on various factors.
Aswini Pradhan
(Articled Assistant)
(28 Points)
Replied 01 April 2011
yes of course u can. please ask the person who framed it!!!!!
CAclubindia
