income tax
This query is : Resolved
27 September 2010
what is the difference between income tax Act and Rules ?
27 September 2010
income tax act is income tax act 1961 and IT rules is Income tax rules 1962
IT act is An Act to consolidate and amend the law relating to income-tax and super-tax
and rules are issued In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), and rule 15 of Part A, rule 11 of Part B and rule 9 of Part C of the Fourth Schedule to that Act, the Central Board of Revenue hereby makes the rules.
IT act is An Act to consolidate and amend the law relating to income-tax and super-tax
and rules are issued In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), and rule 15 of Part A, rule 11 of Part B and rule 9 of Part C of the Fourth Schedule to that Act, the Central Board of Revenue hereby makes the rules.
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