Incentives in Income tax act in India
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Incentives in Income tax act in India by Virendra Talwar

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Published by Anupam Prakashan in New Delhi .
Written in English



  • India.


  • Income tax -- Law and legislation -- India,
  • Tax incentives -- Law and legislation -- India

Book details:

Edition Notes

Statementby Virendra Talwar, assisted by Indu Talwar. With a foreword by R. N. Muttoo.
ContributionsTalwar, Indu.
LC ClassificationsLAW
The Physical Object
Paginationxxxiv, 444 p.
Number of Pages444
ID Numbers
Open LibraryOL4529290M
LC Control Number76918542

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Knowledge / Education Boom in India and Incentives for Educational Institutions under the Income-Tax Act, [Including Foreign Educational Institutions] Presently, India is witnessing a knowledge and information technology boom. 2% on income tax. 5% on income tax: Applicable at 4% on income tax (inclusive of surcharge, if any) There is a Minimum Alternate Tax (‘MAT’) regime in India. Normally, a company is liable to pay tax on the income computed in accordance with the provisions of the Income-tax Act, (‘the Act’). However, the profitFile Size: KB. Income-Tax Act, as amended by Finance Act.   The government revived its efforts to attract high-tech companies for setting up manufacturing units in India in areas like electronic chip manufacturing, laptop etc with a promise of direct and indir.

  In India, companies pay taxes on their income as per the Income Tax Act, (IT Act). Under the Act, domestic companies (i.e. companies incorporated in India) with annual turnover of up to Rs crore are required to pay income tax at the rate of 25%. For other domestic companies, the tax rate is 30%. 1 In addition, companies are also required to pay a . as computed under the Income Tax Act after availing of all eligible deductions, is less than 30 percent of the book profit, the total income of such a company shall be deemed to be 30 percent of the book profit and shall be charged to tax accordingly. ” The Minimum Alternate Tax (MAT) on Companies | Challenges and Way Forward Subsection 28(vi) under Income Tax Act covers the term “Keyman Insurance Policy”. It is an insurance policy made for key managerial personnel of companies. In this provision, if the insured person dies then the Company is liable to receive the sum of the insurance. This insured amount is taxable under Section 28(vi) of the Income Tax Act, Author: Pooja Das.   Section 56(2)(viib) of Income Tax Act provides that the amount raised by a startup in excess of its fair market value would be deemed as income from other sources and would be taxed at 30 per cent. Touted as an anti-abuse measure, this section was introduced in