Section 13 A Of Income Tax Act

Within section 13 of the income tax act lies a little gem.

Section 13 a of income tax act. A salaries limits for the purposes of section 10 13a 2a. Section 13 of the income tax act section 13 of the income tax act 1961 specifies the circumstances where exemptions under section 11 and 12 would not be available for a trust. 1 section 11 not to apply in certain cases 2.

Substituted for income tax by the direct tax laws amendment act 1987 w. Section 13a of income tax act 1961 2017 incomes of political parties chapter iii sections 10 13b of income tax act 1961 deals with provisions related to incomes which do not form part of total income. Comptroller means the comptroller of income tax appointed under section 3 1 and includes for all purposes of this act except the exercise of the powers conferred upon the comptroller by sections 34f 9 37ie 7 37j 5 67 1 a 95 96 96a and 101 a deputy comptroller or an assistant comptroller so appointed.

Section 13a of income tax act 1961 2017 provides for special provision relating to incomes of political parties. Section 13 in the income tax act 1995. This incentive allows purchasers of residential units to write off a percentage of the cost of buildings or improvements thereof acquired or built after 21 october 2008.

Section 11 of the income tax act deals with the exemption of income derived from property held in trust or other legal obligations relating to religious or charitable purposes. The income tax department never asks for your pin numbers passwords or similar access information for credit cards banks or other financial accounts through e mail. 1 nothing contained in section 11 3 or section 12 shall operate so as to exclude from the total income of the previous year of the person in receipt thereof.

1 special provision relating to incomes of political parties any income of a political party which is chargeable under the head 2. The income tax department appeals to taxpayers not to respond to such e mails and not to share information relating to their credit card bank and other financial accounts. 13 1 if at the end of a taxation year the total of the amounts determined for e to k in the definition undepreciated capital cost in subsection 21 in respect of a taxpayer s depreciable property of a particular prescribed class exceeds the total of the amounts determined for a to d 1 in that definition in respect of that property the excess shall be included in computing the taxpayer s income of the year.

Section 13a in the income tax act 1995. The south african revenue service sars permits a significant tax benefit on residential property under section 13 sex of the income tax act no. The tax write offs obtainable through section 13 come into effect when property investors buy a minimum of five residential units for rental.