WebIncome Tax Act. 1 - Short Title; 2 - PART I - Income Tax. 2 - DIVISION A - Liability for Tax; 3 - DIVISION B - Computation of Income. 3 - Basic Rules; 5 - SUBDIVISION A - Income or Loss … Sub-section(1) of Section 17 of the Income Tax Act provides an inclusive definition of “Salary”. It is a much broader term than it is usually understood. In a financial year, the amount received by the employee from his employer in any of the following forms will be considered “Salary” for income tax purposes: 1. Wages-A sum … See more A salary is a form of fixed compensation given to a person for performing work during a specified period. However, in income tax, the definition of salary also includes various other forms of payments offered by the … See more Section 15 of the Income Tax Act deals with the basis of charge. Salary shall be chargeable to tax either on ‘due basis’ or ‘receipt basis’, … See more Salary accrues in India and is taxable under the head ‘Salaries’, if- 1. The services are rendered in India even if the payment is made outside India, 2. Salary paid by the Government of the foreign country to their employees serving in … See more
Teilung 17(1) – Definition of Salary under the Income Tax Act
http://kpmg.com.my/kpmg/publications/tax/22/a0053s0112.htm WebParagraph 20 (1) (j) of the Income Tax Act provides that when a shareholder repays part or all of a loan that was included in his or her income pursuant to subsection 15 (2), the repayment amount is deductible in calculating the shareholder’s income for the year in which the repayment was made. According to the CRA, what constitutes a ... cycling retailers
Old or New Tax Regime? 10 tips to choose which tax regime suits …
WebDec 14, 2007 · 17 (1) Where, at any time in a taxation year of a corporation resident in Canada, a non-resident person owes an amount to the corporation, that amount has … WebJun 27, 2024 · Salary is taxable either on an accrual or receipt basis, either is earlier. The definition of salary is wide, and it includes monetary and non-monetary benefits received due the employer. cheat at poker crossword