WebFirst federal income tax levied in 1861 to fund Civil war. It was repealed after the war. Federal income tax reinstated in 1894, but challenged in court. In 1895, Supreme Court … http://kamarajcollege.ac.in/Department/Commerce/III%20Year/005%20Major%20Elective%20I%20-%20Income%20Tax%20Law%20&%20Practice%20I%20-%20V%20Sem.pdf
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WebMar 16, 2024 · As the name suggests, Salary received by employee is taxable under Income from Salaries. Example. Suppose a person gets flat salary of Rs 20000 p.m from his Company. Income from Salaries=20000*12=240000. Note:-. Salary is taxable under this head only if there is proper employer employee relationship. i.e. employee is working on … WebNov 21, 2024 · Concept of Income. In common parlance, Income is known as a regular periodic return to a person from his activities. However, the Income has broader classified … certificate for free meal
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