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What is the need of income tax rules
what is the need of income tax rules , why this rules are not given in income tax Act ??
Replies (4)
Quick Summary
Those rules are based on the latest live incidents.But the act can't change every day.
It will be included through finance act
It will be included through finance act
What is the difference between Act and rules
Income Tax Act , 1961 is bare act , Rules , circulars and latest amendments are implemented through Finance Act
Rules give clear idea about forms applicable, formulas, calculation and other procedural aspects
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