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Sec 71 of Income Tax Act - A common man's dilemma

Posted by sksen 20 June 2014 29694 Views

From Assessment year 2005-06, Sec .71 of the Income-tax Act, 1961 (the Act) lay down that a loss computed under the head Profits and Gains of Business or Profession shall not be allowed to be set off against the income assessable under

Provisioning for Benefit in case of hospitalization expenses

Posted by sksen 22 November 2010 14971 Views

PROVISIONING FOR BENEFIT IN CASE OF HOSPITALIZATION EXPENSES As a citizen of India, I would like to bring forth an issue which I feel may be given a serious thought for the benefit of all. Slabs of individual tax payer depends upon his/her income a