Can any one explain me these given in sec.28 of income tax under pgbp..
(a)Termination or Modification of Managing agent's agreement in relation to an Indian company
(b)Termination or Modification of Managing agent's agreement in relation to an other company in india
(c)Termination or Modification of contrac relating to an agency in Indian
(d)vesting of management of property or biz. with govt/corporation..
Plzz tell me what do u mean by thiz all..
I'll be greatly thankful to u :)
Thanking you :)
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Plzzz explain thiz urgent
Replies (1)
Section 28 deals with Chargablity of various income under Business and Profession
as you have asked
If company has an agreement under contract and it is terminated (Agreement with indian company / foreign company / Govt. etc.), and company has received compansation then such income is taxable under this head.
I am also searching for that Vesting of Property problem.
Thanks.
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