Under the Income Tax Act of India, 1961, a capital asset is defined as any
NEGATIVE LIST
A negative list under income tax is a list of incomes that are exempt from
POSITIVE LIST
The positive list under income tax is a list of specific items that are
MEANING OF CAPTIAL ASSEST
Under the Income Tax Act, 1961, a capital asset is defined to include any kind
CAPITAL GAINS
CHARGEBILITY Chargeability under income tax refers to the income that is subject to income tax.
RELIEF FROM TAXATION IN INCOME FROM RETIREMENT ACCOUNT MAINTAINED IN A NOTIFIED COUNTRY
Section 89A of the Income-tax Act, 1961 (ITA) provides relief from taxation in income from
PROCEDURE FOR CLAIMING THE TAX RELIEF
Gather necessary documents.Collect all supporting documents required to claim the relief. This may include investment
COMPUTATION OF RELEF IN RESPECT OF OTHER PAYMENTS
Computation of relief in respect of other payments under income tax Section 89 of the
COMPUTATION OF RELIEF IN RESPECT OF COMPENSTATION ON TERMINATION OF EMPLOYMENT
The computation of relief in respect of compensation on termination of employment under income tax
COMPUTATION OF RELEF IN RESPECT OF GRATUITY
The computation of relief in respect of gratuity under income tax is governed by Section