Sec 64(1)(ii) Income tax Act

Yes the clubbing provisions would apply here.

 i cound'nt have the difference between EVENT and CONTINGENCY in AS -4.can any one help me?

Yes the clubbing provisions would apply here.

But Not Neccessary  to be Clubbed in Mr.X,

Bcoz, Individually File The Return For Mrs.X... Save the Income of Rs.1,90,000 For the A.y-10-11,,

Am Righttttt......???

DEAR FRIENDS,

YES CLUBBING PROVISIONS WOULD APPLY HERE.

HOWEVER AS PER SECTION 40A(7) OF THE INCOME TAX ACT, PAYMENT MADE TO RELATIVE WHO DOESN'T POSSESS REQUISITE TECHNICAL QUALIFICATION WOULD BE DISALLOWED. THUS, THERE IS TWO WAY TAXATION :

ONE BY WAY OF DISALLOWANCE OF PAYMENT MADE TO RELATIVE AS PER SEC 40A(7)

SECOND BY WAY OF CLUBBING IN HANDS OF PERSON AS PER SEC 64(1)(ii)

HOWEVER, INCOME TAX DOESN'T LEVY DOUBLE TAXATION ON ANY INCOME. THUS, ONCE THE EXPENDITURE IS DISALLOWED AS EXPENSES U/S 40A(7) OF THE INCOME TAX ACT, IT WOULD NOT ATTRACT THE PROVISION OF THE SEC 64(1)(ii).

REGARDS,

MANOJ

HI MATES......

WHETHER THERE ARE ANY PROVISIONS IN THE INCOME TAX ACT TO ADJUST TDS PAYABLE TO GOVERNMENT WITH TDS REFUND BUT NOT RECEIVED DURING THE LAST FINANCIAL YEART.!