Section 308 Income Tax Act 2025 Charge of tax in case of oral trust. 308. (1) Where a trustee receives or is entitled to receive any income on behalf or for the benefit of any person under an oral trust, then, irrespective of anything contained in any other provision of this Act, tax shall be charged… Read More »
Section 307 Income Tax Act 2025 Charge of tax where share of beneficiaries unknown. 307. (1) The income or any part thereof, in respect of the person mentioned in sections 303(1)(c) and (d) shall be chargeable to tax at the maximum marginal rate, if— (a) such income or such part thereof is not specifically receivable on behalf or for… Read More »
Section 306 Income Tax Act 2025 3. -Representative assessees-Special cases Who may be regarded as agent. 306. (1) For the purposes of this Act, “agent”, in relation to a non-resident, includes— (a) any person in India— (i) who is employed by or on behalf of the non-resident; or (ii) who has any business connection with the… Read More »
Section 305 Income Tax Act 2025 Right of representative assessee to recover tax paid. 305. (1) Every representative assessee who, as such, pays any sum under this Act, shall be entitled to recover the sum so paid from the person on whose behalf it is paid, or to retain out of any moneys that may be… Read More »
RULE 130 INCOME-TAX RULES 2026 RULE 130 INCOME-TAX RULES 2026 Time limits. 130. (1) For the purposes of section 274, the Commissioner shall— (a) not issue directions under section 274(3) after the expiry of one month from the end of the month in which the date of compliance of the notice issued under section 274(2) falls;… Read More »
Section 304 Income Tax Act 2025 Liability of representative assessee. 304. (1) Every representative assessee, as regards the income in respect of which he is a representative assessee, shall be subject to the same duties, responsibilities and liabilities as if the income were income received by or accruing to or in favour of him beneficially and… Read More »
RULE 129 INCOME-TAX RULES 2026 RULE 129 INCOME-TAX RULES 2026 Notice and Forms for reference under section 274. 129. (1) For the purposes of section 274(1), before making a reference to the Commissioner, the Assessing Officer shall issue a notice to the assessee seeking objections, if any, as to the applicability of provisions of Chapter XI… Read More »
Section 303 Income Tax Act 2025 2.—Representative assessees—General provisions Representative assessee. 303. (1) For the purposes of this Act, “representative assessee” means— (a) in respect of the income of a non-resident specified in section 9, the agent of the non-resident, including a person who is treated as an agent under section 306; (b) in respect of the income… Read More »
RULE 128 INCOME-TAX RULES 2026 RULE 128 INCOME-TAX RULES 2026 Chapter XI relating to General Anti Avoidance Rule not to apply in certain cases. 128. (1) The provisions of Chapter XI shall not apply to— (a) an arrangement, where the aggregate tax benefit in the relevant tax year, to all the parties to the arrangement does… Read More »
RULE 127 INCOME-TAX RULES 2026 Determination of consequences of impermissible avoidance arrangement. 127. For the purposes of section 181, where a part of an arrangement is declared to be an impermissible avoidance arrangement, the consequences in relation to tax shall be determined with reference to such part only. ********************************************* Read more Income Tax Act 2025… Read More »