Direct tax
This query is : Resolved
27 October 2010
Mr. Tamang born and brought up in the State of Sikkim had Net Profit of Rs. 2,25,000 from the business located in Sikkim and Interest of Rs. 55,000 on the Securities/Bonds issued by the Government of Rajasthan.
It's taxble or not Give me resoan .
Thanks
It's taxble or not Give me resoan .
Thanks
27 October 2010
Both the income are taxable.
27 October 2010
The Income Tax Act extends to whole of India, Sikkim being part of India, any income arising there shall be taxable in India. The bonds of Rajasthan Govt., if not specifically exempt from tax as per IT Act, income from such bonds should be taxable in India.
27 October 2010
Thanks for all
27 October 2010
Any exmption U/s 10(26AAA)
28 October 2010
yes.. 10(26AAA).. not to be forgotten
For an individual being a sikkimese..
INCOME FROM ANY SOURCE IN SIKKIM &
DIVIDEND/INTEREST ON SECURITIES
is FULLY EXEMPT U/S 10(26AAA)
For an individual being a sikkimese..
INCOME FROM ANY SOURCE IN SIKKIM &
DIVIDEND/INTEREST ON SECURITIES
is FULLY EXEMPT U/S 10(26AAA)
Message likes :
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05 November 2010
Wt r the resoan .
05 November 2010
That's type question in exame ,how to handle.
05 November 2010
Show the claim in the same way as other incomes claimed exempt u/s 10
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