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Section 28 - Chargeability

Income Tax - Profit and Gains of Business or Profession - 01 - SEC - 28: CHARGEABILITY (i) Profits and gain of any business or profession carried on by the assesssee at any time during the previous year. Income earned from the exercise of any profession or "vocation , which involves the idea of occupation requiring either purely intellectual skill or any manual skill , is taxable under this head . (ii) Any compensation or other payment due to or received by any person specified .....

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rt under the Custom and Central Excise Duties Drawback Rules, 1971. (vii)Value of any benefits or perquisites arising from a business or the exercise of a profession . (viii) Interest , salary ,bonus commission or remuneration due to or received by a partner of a firm from such firm . Provided that where any interest ,salary ,bonus ,commission or remuneration , by whatever name called ,or any part thereof has not been allowed to be deducted under clause (b) of section 40 , the income under this .....

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