Laws and rules
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 November 2011
WHAT IS BASIC DIFFERENT BETWEEN INCOME TAX ACT AND ITS RULES
CA PARAS BAFNA
(Expert)
29 November 2011
Income Tax Act contains provision for taxation and defines what is taxable as income? Who is liable to pay tax? When he has to pay taxes ? What deductions and exemptions are available from taxable income etc..etc...
.
Whereas Income Tax Rules guide us how the provisions of the IT Act are to be followed.
or are to be implemented. What form is required to filled up? How it is to be filled up ? With whom ....when...and in which manner it is to be deposited.
.
In a nut shell Act is the law and rules guide how the law can be followed.
.
Whereas Income Tax Rules guide us how the provisions of the IT Act are to be followed.
or are to be implemented. What form is required to filled up? How it is to be filled up ? With whom ....when...and in which manner it is to be deposited.
.
In a nut shell Act is the law and rules guide how the law can be followed.
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