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MEANING OF CASUAL INCOME, INCOME RECEIVED SUDDENLY ,UNEXPECTEDLY, OR BY LUCK WHICH IS NOT RECURING NATURE, IS CALLED CASUAL INCOME, , FOR EX., MONEY FOUND ON ROAD,WINNING, FROM LOTTERY,CARD GAMES ,BETTING
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MEANING BY ASSESSMENT YEAR
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MEANING OF PREVIOUS YEAR, , ACCORDING TO SEC. 3, Previous year means the financial year , immediately, processing the assessment year
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MEANING OF FINANCIAL YEAR, , FINANCIAL YEAR MEANS A YEAR WHICH, STARTS ON 1ST APRIL AND ENDS ON 31ST, MARCH
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YOU CAN SEE……..
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GROSS TOTAL INCOME SEC. 80 B(5), , TAXABLE INCOME OF EACH HEAD IS COMPUTED BY AGGREGATING THE INCOMES FALLING UNDER THE, HEAD AS PER PROVISION ACT AND DEDUCTING THEREFROM THE DED. OF THE HEAD ALLOWED UNDER, THE ACT
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WHAT DO MEAN BY PERSON
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MEANING BY TAX………INCOME TAX ,1961
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MEANING OF TAX EVASION, TAX evasion is a technique of reducing tax liability or avoiding, tax liability by violating tax law ., , IT IS ABSOLUTELY ILLEGAL, 1. SUBMITTING MISLEADIMG DOCUMENTS, 2. UNTRUE STATEMENT, 3. ADPOTING UNFAIR MEANS, 4. OMISSION OF MATERIALS FACT AT ASSESSMENT TIME
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MEANING OF TAX AVOIDANCE, TAX avoidance is a technique by which income, exp. And, investments of an assessee are so arranged that without, violating tax laws his tax liability is reduced to the minimum, by taking advantage of the loopholes of tax law ., , IT IS NOT ILLEGAL
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MEANING OF TAX PLANNING
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MEANING BY TAX MANAGEMENT, , TAX MANAGEMENT IS A PROCESS OF MAKING THE TAX, PLANNING SUCCESSFUL BY COMPLYING WITH THE VARIOUS, PROVISIUONS OF LAW, , M.S., WAY