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Section 4 of Income-tax Act 1961-2017 – Charge of income-tax

Detail analysis of the provisions of Section 4 (Charge of income-tax) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Chapter II (Sections 4-9A) of Income Tax Act, 1961 deals with provisions related to Basis of Charge. Section 4 of Income Tax Act 1961-2017 provides for charge of income-tax.

(1) Where any Central Act enacts that income-tax shall be charged for any assessment year at any rate or rates, income-tax at that rate or those rates shall be charged for that year in accordance with, and subject to the provisions (including provisions for the levy of additional income-tax) of, this Act in respect of the total income of the previous year of every person:

Provided that where by virtue of any provision of this Act income-tax is to be charged in respect of the income of a period other than the previous year, income-tax shall be charged accordingly.

(2) In respect of income chargeable under sub-section (1), income-tax shall be deducted at the source or paid in advance, where it is so deductible or payable under any provision of this Act.

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