The Reader

Any amount of advance tax, which is deposited subsequent to the date prescribed for depos. the tax in the relevant F.Y. should be treated as adv. tax

U/s 80E repayment of interest on an educational loan taken from financial or approved charitable institution for pursuing higher educ. is deductible.

U/s 10(2) Share Income of Member of HUF from income of the HUF is exempt subject to section 64(2).

Rent payable to Central and State Government shall not be liable to deduction of tax at souce u/s 194-I.

Where the CIT is Satisfied that the activities of the charitable trust, which has been accorded regt. is not genuine, he can cancel the regt u/s 12AA

Income accrued unexpectedly after the instalment due date is not a valid reason and interest shall be charges u/s 234C.

U/s 55 Renouncement of Right Share is a transfer chargeable under the head Capital Gains. Cost of acquisition of such renouncement is NIL.

U/s 9(1)(iii), Salary paid by the Government of India to an Indian citizen for services rendered outside India is deemed to accrue or arise in India.

Distribution of capital assets in specie among the shareholders, such distrib. is not a transfer and is not taxable in the hands of the Co. u/s 46(1)

TDS need not be deducted from payment to Educational Institution whose Income is exempt from tax
- C.No.12/113/68/8.10.1968