What is deemed as being not specifically receivable on behalf or for the benefit of any one person ?

Share
Share This Thread
  1. Nikil Mohan

    Nikil Mohan Member

    Sir, What is deemed as being not specifically receivable on behalf or for the benefit of any one person as per Income tax Act ?

    -- Thanks in advance
     
  2. Chandrashekar M

    Chandrashekar M Active Member

    Please read explanation to section 164 of Income tax act, which reads

    Explanation 1-For the purposes of this section,-
    (i) any income in respect of which the persons mentioned in clause (iii) and clause (iv) of sub- section (1) of section 160 are liable as representative assessee or any part thereof shall be deemed as being not specifically receivable on behalf or for the benefit of any one person unless the person on whose behalf or for whose benefit such income or such part thereof is receivable during the previous year is expressly stated in the order of the court or the instrument of trust or wakf deed, as the case may be, and is identifiable as such on the date of such order, instrument or deed;

    -- Regards
     
Draft saved Draft deleted
Loading...
Similar Threads Forum Date
Can Deemed Rent for Under Construction Property be 0? Income Tax Jul 31, 2017
Redeemed ULIP amount Income Tax Jul 19, 2017
Single property treated as deemed let out? Income Tax Dec 7, 2016
CA running a Coaching Centre would not be deemed to be in Practice Income Tax Jul 30, 2016
Deemed Income from House property Income Tax Jul 18, 2016