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- #Investment expense deduction for forex trading courses license#
- #Investment expense deduction for forex trading courses professional#
- #Investment expense deduction for forex trading courses free#
Loss of a discontinued business or profession could be adjusted from the deemed business income as referred to in sectionĤ1(1), 41(3), (4) or (4A) without any time limit.Īny foreign exchange gain or loss arising in respect of specified foreign currency transactions shall be treated as income or loss. Section 36(1)(viii) shall be chargeable as income in the previous year in which the amount is withdrawn. Section 36(1)(vii) in earlier years, any recovery of same shall be chargeable to tax.Īmount withdrawn from special reserves created and maintained under Where bad debts have been allowed as deduction under Where any capital asset used in scientific research is sold without having been used for other purposes and the sale proceeds together with the amount of deduction allowed under section 35 exceed the amount of the capital expenditure, such surplus or the amount of deduction allowed, whichever is less, is chargeable to tax as business income in the year in which the sale took place. Any liability which is unilaterally written off by the taxpayer from the books of accounts shall be deemed as remission or cessation of such liability and shall be chargeable to tax.ĭepreciable asset in case of power generating units, is sold, discarded, demolished or destroyed, the amount by which sale consideration and/ or insurance compensation together with scrap value exceeds its WDV shall be chargeable to tax.Succession could be due to amalgamation or demerger or succession of a firm succeeded by another firm or company, etc. Recovery of trading liability by successor which was allowed to the predecessor shall be chargeable to tax in the hands of successor.Remission or cessation of liability in respect of any loss, expenditure or trading liability incurred by the taxpayers.However, it shall be deemed to be distinct and separate from any other business.
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Interest, salary, bonus, commission or remuneration due to or received by a partner from partnership firmĪ) Any sum received or receivable for not carrying out any activity in relation to any business or profession orī) Any sum received or receivable for not sharing any know-how, patent, copyright, trademark, licence, franchise, or any other business or commercial right or information or technique likely to assist in the manufacture of goods or provision of services.Īny sum received under a Key man Insurance policy including the sum of bonus on such policyĪny profit or gains arising from conversion of inventory into capital asset.Īny sum received ( or receivable) in cash or in kind, on account of any capital assets (other than land or goodwill or financial instrument) being demolished, destroyed, discarded or transferred, if the whole of the expenditure on such capital assets has been allowed as a deduction under section 35AD
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Value of any benefits or perquisites arising from a business or the exercise of a profession.
#Investment expense deduction for forex trading courses free#
Profit on transfer of Duty Free Replenishment Certificate, under Section 5 of Foreign Trade (Development and Regulation) Act 1992 Profit on transfer of Duty Entitlement Pass Book Scheme, under Section 5 of Foreign Trade (Development and Regulation) Act, 1992
#Investment expense deduction for forex trading courses license#
Profit on sale of a license granted under the Imports (Control) Order 1955, made under the Import Export Control Act, 1947Ĭash assistance (by whatever name called) received or receivable by any person against exports under any scheme of Government of IndiaĪny duty of Customs or Excise repaid or repayable as drawback to any person against exports under the Customs and Central Excise Duties Drawback Rules, 1971.
#Investment expense deduction for forex trading courses professional#
Income derived by a trade, professional or similar association from specific services performed for its members Profit and gains from any business or profession carried on by the assessee at any time during the previous yearĪny compensation or other payment due to or received by any specified person The following incomes are chargeable to tax under the head Profit and Gains from Business or Profession: Profits and Gains from Business and Profession
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Expenses deductible on actual payment basis