The Tax Publishers

Chargeability of Income, Scope of Total Income and Income deemed to be received [Sections 2(45), 4, 5 and 7]

A. Chargeability of Income [Section 4]

1. Charging of tax--Meaning of--Section 4 is the charging section. The word ‘charge’ means that the tax is payable on the income chargeable to tax on the basis of the provisions contained in the Income Tax Act, 1961.

2. Basic charging provision [Section 4]--The scheme of section 4(1) may be analysed as under :

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