https://padlet.com/19e2144/icsybopl4gvrgg9t ASSIGNMENT : Write a short notes on 1. Person 2. Assessment Year 3. Previous year 4. Gross total income. 5. Total income. 6. PAN. en-us 2021-09-14 06:10:53 UTC 2021-09-14 06:30:24 UTC hello@padlet.com 19e2144 https://padlet.com/19e2144/icsybopl4gvrgg9t/wish/1738520250 For the purpose of charging Income-tax, the term 'person', under Section 2(31) of Income Tax, includes Individual, Hindu Undivided Families [HUFs], Association of Persons [AOPs], Body of individuals [BOIs], Firms, LLPs, Companies, Local authority and any artificial juridical person.]]> 2021-09-14 06:17:42 UTC https://padlet.com/19e2144/icsybopl4gvrgg9t/wish/1738520250 19e2144 https://padlet.com/19e2144/icsybopl4gvrgg9t/wish/1738529196 Assessment Year is the year in which one file income tax returns of the year prior to it (i.e. Financial Year). It is the year in which the income that one has earned in the financial year that is just ended is evaluated. E.g. For Financial Year 2014-15 the Assessment Year will be 2015-16.]]> 2021-09-14 06:22:03 UTC https://padlet.com/19e2144/icsybopl4gvrgg9t/wish/1738529196 19e2144 https://padlet.com/19e2144/icsybopl4gvrgg9t/wish/1738533012 Previous Year is the Year immediately preceding the assessment year. Previous year is also known as Financial Year. It basically means the period starting from April 1 and ending on March 31 of the next year.]]> 2021-09-14 06:23:56 UTC https://padlet.com/19e2144/icsybopl4gvrgg9t/wish/1738533012 19e2144 https://padlet.com/19e2144/icsybopl4gvrgg9t/wish/1738538192 Gross Total Income is the aggregate of all your taxable receipts in the previous year. It will also include profit or loss carried forward from past years and any income after clubbing provisions.]]> 2021-09-14 06:26:24 UTC https://padlet.com/19e2144/icsybopl4gvrgg9t/wish/1738538192 19e2144 https://padlet.com/19e2144/icsybopl4gvrgg9t/wish/1738542530 The ‘total income’ (TI) is derived after subtracting the various deductions under Section 80 from the GTI(Gross Total Income). So, you first calculate the GTI and then subtract the deductions to arrive at the TI.]]> 2021-09-14 06:28:29 UTC https://padlet.com/19e2144/icsybopl4gvrgg9t/wish/1738542530 19e2144 https://padlet.com/19e2144/icsybopl4gvrgg9t/wish/1738546929 Permanent Account Number abbreviated as PAN is a unique 10-digit alphanumeric number issued by the Income Tax Department to Indian taxpayers. The department records all tax-related transactions and information of an individual against his unique permanent account number.]]> 2021-09-14 06:29:50 UTC https://padlet.com/19e2144/icsybopl4gvrgg9t/wish/1738546929