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

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  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
     
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