Income from assets transferred to the son’s wife is taxable under section 64(1)(a) of the
REVOCABLE TRANSFER OF ASSEST
A revocable transfer of assets under income tax is a transfer of assets that can
AMOUNTS NOT DEDUCTIBLE BY VIRTUE OF SECTIONS 115A,115B,115AB115AC,115AD,115BBA,115D
Section 115A Dividend income received by a non-resident non-corporate assesses or a foreign company Interest
INTREST ON KISA VIKAS PATRAS
The interest on Kisan Vikas Patras (KVPs) is taxable under income tax in India. The
PROVISIONS ILLUSTRATED
Provisions are expenses or losses that are anticipated but have not yet occurred. They are