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Income Tax - Highlights / Catch Notes

Home Highlights June 2019 Year 2019 This

Rebate u/s 88E - Rebate in respect of STT payment - rebate is ...


Rebate u/s 88E Only Applies to Income from Taxable Securities Transactions, Not Other Income Types.

June 11, 2019

Case Laws     Income Tax     AT

Rebate u/s 88E - Rebate in respect of STT payment - rebate is admissible to the assessee only in respect of the income of an assessee in a previous year, chargeable under the head “Profits and gains of business or profession”, arising from taxable securities transactions - no ambiguity in restricting the rebate and not allowing for other income

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