Section 312 Income Tax Act 2025 5. -Executors Executor. 312. (1) The income of the estate of a deceased person shall be chargeable to tax in the hands of the executor as an individual, if there is only one executor, or as an association of persons, if the executors are more than one. (2) For the… Read More »
Section 313 Income Tax Act 2025 6. -Succession to business or profession Succession to business or profession otherwise than on death. 313. (1) Where a person carrying on any business or profession (hereinafter referred to as the predecessor) has been succeeded therein by any other person (hereinafter referred to as the successor) who continues to carry… Read More »
Section 311 Income Tax Act 2025 Charge of tax where shares of members in association of persons or body of individuals unknown, etc. 311. (1) Where the individual shares of the members of an association of persons or body of individuals in the whole or any part of the income of such association or body are… Read More »
RULE 136 INCOME-TAX RULES 2026 Exercise or withdrawal of option for new tax regime. 136. The option to be exercised or withdrawn under the provisions specified in column B of the following Table, by a person specified in column C thereof, for any tax year shall be in the return of income to be furnished under… Read More »
RULE 135 INCOME-TAX RULES 2026 RULE 135 INCOME-TAX RULES 2026 Calculation of net winnings from online games for purpose of section 194(1) [Table: Sl. No. 5]. 135. (1) Net winnings from online games during the tax year, for the purposes of section 194(1) [Table: Sl. No. 5], shall be calculated using the following formula:— Net winnings… Read More »
RULE 134 INCOME-TAX RULES 2026 Exercise of option for taxation of royalty income from patent under section 194(1) [Table: Sl. No. 2]. 134. (1) For the purpose of exercising the option for taxation of income as royalty in respect of a patent developed and registered in India, by an eligible assessee under section 194(1)[Table: Sl. No.… Read More »
RULE 133 INCOME-TAX RULES 2026 Modes of payment for the purpose of section 187. 133. Every person, carrying on business or profession, if his total sales, turnover or gross receipts, as the case may be, in business or profession exceeds fifty crore rupees during the immediately preceding tax year shall provide facility for accepting payment through… Read More »
RULE 132 INCOME-TAX RULES 2026 Remuneration. 132. (1) For attending the meeting of an Approving Panel, the Chairperson and other members of the said Panel shall be entitled to— (a) a sitting fee of Rs. 6000 per day; and (b) travelling allowances including transportation charges for local travel and daily allowances (including accommodation) as admissible to… Read More »
Section 310 Income Tax Act 2025 Share of member of association of persons or body of individuals in income of association or body. 310. (1) Income-tax shall not be payable by an assessee (who is a member of an association of persons or body of individuals) in respect of his share in the income of the… Read More »
Section 309 Income Tax Act 2025 4. -Association of persons and body of individuals Method of computing a member’s share in income of association of persons or body of individuals. 309. (1) For the purposes of this section, sections 310 and 311, an association of persons or body of individuals shall not include a company or a co-operative society… Read More »