Income Tax Act
- we undertake appeals,hearings/High court.
- Income Tax Assessments.
- Income Tax Refunds.
- Capital Gains,Computation of Individual Income.
- Filling of Individual returns and corporate returns.
- In order to tax the income of a person the term itself is designed under the Income Tax Act.
As per the Act the term Income includes:
- Profits and gains of Business or Profession: This includes income from carrying on a business or income earned by doing any profession.
- Profit in lieu of Salary, perquisite: This includes any amount received by an employee from his employer other then the salary amount.
- Allowances granted to the assesses to meet his expenses incurred for performance of his duties: This includes allowances such as HRA, Medical allowance, etc given by an employer to his employee.
- Any capital gains: This means any profit derived on sale of any capital asset.
- Winning from lotteries, crossword puzzles, races, card game, T.V. Show , etc
- Any sum received for fund created for welfare of employees.