House Rent Allowance is received by the salaried individual. The assessee can claim deduction of house rent allowance under section 10(13A) in accordance with rule 2A of income rules. 1.What is House Rent Allowance under section 10(13A)? House rent is…
section 139(9) defective/incomplete return states that assessing officer considers that the return of income furnished by the assessee is defective if return form has not been duly filed. Content 1.What is section 139(9) defective/incomplete return? 2. What is the time…
What is accrual concept in accounwting? Accrual concept means effects of transaction and events are recorded on mercantile basis i.e. when they occur ( not as cash or cash equivalent is received or paid). Further they are recorded in accounting…
If return is not furnished within the time allowed under section 139(1) or within time allowed under notice issued under section 142(1) . Then section 139(4) of income tax act enables a taxpayer to file a belated return. What is…