Section 5a Of Income Tax Act

Section 5 of income tax act 1961 provides scope of total income in case of of person who is a resident in the case of a person not ordinarily resident in india and person who is a non resident which includes.
Section 5a of income tax act. Analysis of the main provision of section 45 5a of the act. 1 where the husband and wife are governed by the system of community of property known under the portuguese civil code of 1860 as communiao dos bens in force in the. 1 where the husband and wife are governed by the system of community of property known under the portuguese civil code of 1860 as communiao dos bens in force in the state of goa and in the union territories of dadra and nagar haveli and daman and diu the income of the husband and of the wife under any head of income shall not be assessed as that of such community.
Section 5 of income tax act scope of total income 5. Income tax act arrangement of sections section 1. Section 5a in the income tax act 1995.
To minimise the hardship to the assessees the amendment was bought up to insert section 45 5a in the act. Deferment of tax issues arising in the context of section 45 5a of the income tax act 1961. Section 45 5a of the income tax act 1961 under the existing provisions of section 45 capital gain is chargeable to tax in the year in which transfer takes place except in certain cases.
Board of inland revenue. Provisions under these sections are. Savings account free of tax.
Insertion of new section 5a. 1 apportionment of income between spouses governed by portuguese civil code. Apportionment of income between spouses governed by portuguese civil code.
After section 5 of the income tax act the following section shall be inserted and shall be deemed to have been inserted with effect from the 1st day of april 1963 namely. Section 5 and 5a of income tax act 1961 scope of total income and apportionment of income between spouses governed by portuguese civil code are defined under section 5 and 5a of income tax act 1961. Insertion of new section 5a.