Income Tax Amendments Applicable From 01.04.2017

Important Amendments in the Income Tax Act Applicable From 01.04.2017 The Finance Act, 2017, which has made a history of being a enacted law on 31st March, 2017 , has made far-reaching changes in Direct Taxes. Specially in case of provisions of cash transaction which are going to affect almost every person of the society…

Section 14-Heads of income

Heads of income Incomes of income-tax shall  be classified under the following heads of income :— A. Salaries. B. Interest on securities omitted Finance Act, 1988, w.e.f. 1-4-1989. C. Income from house property. D. Profits and gains of business or profession. E. Capital gains. F. Income from other sources.