definition of real income
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 January 2010
Dear sir
What is the definition of real income under Income Tax Act 1661
What is the definition of real income under Income Tax Act 1661
16 January 2010
Please read Sec.2(24)
17 January 2010
Real income has not been defined by the Income Tax Act.
Even the word "Income" is not properly defined.
It says - income includes .....
So the definition of the income is very wide.
Even deemed income is taxable under the Income Tax Act.
Even the word "Income" is not properly defined.
It says - income includes .....
So the definition of the income is very wide.
Even deemed income is taxable under the Income Tax Act.
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