The Indian Income Tax Its History Theory And Practice
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3 In 1912, the Punjab Financial Commissioner deci- ded to the same eflfect that if any transaction, a lancl sale or any other, involves profit, such profit can be taxed to the incom tax, even when it may have been . I The New Act defines "charitable purpose - as including relief of the Poor, education, medical relief, and the advancement of any other object of general public utility.
2 Trienniel Report, Bengal 1914 p. 1.
3 Madras Triennial Report 1902 p. 3 THE TAXABLE MINIMUM. 83 expended on an... educational purpose. ^ Evidently the income, before it has been received by an educa- tional institution, is not regarded as exempt.
It should be noted here that although the colle- ctive income of a Missionary Board or a temple is exempt from the taxj not so the incomes or salaries received by individuals from these or similar institu- tions, 2 With regard to the third category, namely the exemption of incomes 6f Military officers the Indian Law follows the Continental rather than the English practice.
What to read after The Indian Income Tax Its History Theory And Practice?
You can find similar books in the "Read Also" column, or choose other free books by Shankar Madhav Pagar to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
3 In 1912, the Punjab Financial Commissioner deci- ded to the same eflfect that if any transaction, a lancl sale or any other, involves profit, such profit can be taxed to the incom tax, even when it may have been . I The New Act defines "charitable purpose - as including relief of the Poor, education, medical relief, and the advancement of any other object of general public utility.
2 Trienniel Report, Bengal 1914 p. 1.
3 Madras Triennial Report 1902 p. 3 THE TAXABLE MINIMUM. 83 expended on an... educational purpose. ^ Evidently the income, before it has been received by an educa- tional institution, is not regarded as exempt.
It should be noted here that although the colle- ctive income of a Missionary Board or a temple is exempt from the taxj not so the incomes or salaries received by individuals from these or similar institu- tions, 2 With regard to the third category, namely the exemption of incomes 6f Military officers the Indian Law follows the Continental rather than the English practice.
What to read after The Indian Income Tax Its History Theory And Practice?
You can find similar books in the "Read Also" column, or choose other free books by Shankar Madhav Pagar to read onlineMoreLess
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