under Section 28(2) (a) of the Land Use Act that the owner or holder of land is entitled to be heard. The assessee can claim relief under_____ for arrears or advance salary. This is as per Rule 3(7)(ix) (reproduced below) of the Income Tax Rules. See paragraph (e)(2) of this section. 1.1 A reference in a provision of this Act to Crown land does not include land referred to in section 6 (1) of the Public Agency Accommodation Act unless that provision of this Act is expressly made applicable to that land under section 6 (2) or (3) of the Public Agency Accommodation Act. Yes, telephone reimbursement provided to employees is not taxable. 3 (cc) land to which the provisions of the Rural Coloured Areas Act, 1963 (Act 24 of 1963), apply; (dd) land which is held in trust by the State or a Minister for any person; [Para. ACT : VALUE-ADDED TAX ACT, NO. 2008-389, N.S. Consolidation Period: From December 14, 2017 to the e-Laws currency date. Today, we learn the provisions of section 28 of Income-tax Act 1961. ABCAUS Case Law Citation: ABCAUS 2394 (2018) 07 ITAT. Power to sue for unpaid taxes. Garnishment. 4 Taxable resource land that is vacant is prescribed as a class of taxable resource property to which ... the 2001-2002 municipal taxation year is prescribed as the base year for property to which Section 45A of the Act first applied in the municipal taxation years 2006-2007 and 2007-2008. The activity of assignment is in the nature of agreeing to transfer one‟s leasehold rights. Land Transfer Tax Act. Assignment of leasehold right on land is taxable under the GST @ 18%. BOth together will fall under the head capital gains. Section 257 of the Excise Tax Act (the Act) provides a rebate of uncredited tax where a non-registrant makes a taxable supply of real property. Section 28 - Recovery of duties not levied or short-levied or erroneously refunded - Customs Act, 1962. 3 L.R.O. Power to distrain for taxes. A Section 27, otherwise known as an Early Release of Deposit Authority, takes its name from Section 27 of the Sale of Land Act 1962. However, the process can be cumbersome, and obtaining a letter to support a Section 27 can be challenging. X X X X Extracts X X X X..... uty or interest not being in excess of the amount partly due from such person. Exclusions from Crown land definition. [Income Tax Act ss 70(10)] 28. As per section 56(1), income of every kind, which is not to be excluded from the total income under this Act, shall be chargeable to income-tax under the head "Income from Other Sources" if it is not chargeable to Income-tax under any of the first four heads specified in Section 14. 337/2008; replaced: O.I.C. Rent or revenue generated from agricultural land. 5. Reporting exempt income The gains, if any earned on the sale of the land, would be computed as per the Income-tax Act, 1961, and shall be taxable under the head capital gains. 1990, CHAPTER L.6. (d) in section 29A- (i) includes- (aa) land, whether or not registrable, used or intended to be used mainly for residential purposes; Section 12 of Part I of Schedule V refers to subsection 70(10) of the Income Tax Act for the meaning of "child". Date of determination of market value of land 2013 is not Another related but important question is regarding the date on which the market value of land is to be determined in cases where land acquisition proceedings had been initiated under the NH Act, 1956 and were at different stages as on 31 .12.2014. Subsection 7(2) added: O.I.C. Section 2(1A) of the Income Tax (IT) Act, 1961, defines agricultural income and broadly demarcates it into three categories. “land” has the same meaning as in the Land Titles Act (Cap. Power of sale. In view of Section 36 (2) of 1999 Constitution which complements the provision of section 28 of the Land Use Act, a holder of a right of Occupancy must be heard before his right is revoked. 30. Section 28 of IT Act 1961-2020 provides for profits and gains of business or profession. As noted earlier, EI benefits received by an Indian are not taxable if the benefits relate to employment that was exempt under section 87. 31. Farmers can use their agricultural land to generate rent or revenue in various ways. 2008-522, N.S. 33. of the compensation paid for such land acquired shall be shared with the original land owners. As per provisions of section 2(24)(xviii), it would be taxable but CBDT press release dated 5-5-2015 has clarified that LPG subsidy or other welfare subsidies shall not be income as per provisions of section 2(24)(xviii) of Income Tax Act,1961. Payment of tax. (c) amended by s. 1 (c) of Act 51 of 1983.] Recently, we have discussed in detail section 27 (“Owner of house property”, “annual charge”, etc., defined) of IT Act 1961. For any taxable year beginning after December 31, 1957, and before January 1, 1970, the $5,000 loss upon theft of bonds (item 6) would not be taken into account under section 1231. 29. Perhaps the most famous act of opposition to Section 28 came when Shaun Woodward, a ... Not only did Section 28 prevent the active promotion of homosexuality but also it appeared to give a legal reason to oppose it in schools and other forums if necessary. Reg. WEST BENGAL AUTHORITY FOR ADVANCE RULING. 1987 Land Tax CAP.78A SECTION 34. Thus, taxability of interest u/s 28 will be same as compensation. Distress may be sold. Goods distrained and claimed by a person other than the person liable for the payment of tax. Reg. Generally, overseas income received in Singapore on or after 1 Jan 2004 is not taxable, except in some circumstances. Accordingly, tax-exempt salary or wages paid to an Indian employee are subject to EI premiums. Last amendment: 2017, c. 34, Sched. The information in this memorandum does not replace the law found in the Excise Tax Act and its Regulations. 23. 35. It is provided for your reference. 28. 14 issued on 20 January 1995. CONCLUSION: Over and above there may be controversies and questions in the minds of people. However, amendment made in section 145 and section 56 and 57 … Supreme Court in case of Ghanshyam (HUF) - 315 ITR 1 held that interest under section 28 of land acquisition act is accretion to the value of compensation and hencec it is part and parcel of compensation. annuities, royalties, winnings or estate or trust income) 29A. R.S.O. The Ruling as follows :. 2. 89 OF 1991 (the VAT Act) ... in terms of section 5(2), VAT Practice Note: No. Background The supply of an enterprise or of a part of an enterprise is a taxable supply which should be subject to VAT at the rate of 14%. Nature of the rebate; Calculating the rebate ; Claiming the rebate; Disclaimer. Waiver or One Time Settlement of loan not taxable under section 28 (iv) – ITAT deletes the addition following the judgment of the Supreme Court. EI premiums are not taxes and are not exempt under section 87 of the Indian Act. 1. Subject to section 27, land owned by a municipality, including an upper-tier municipality, a public commission or a local board as defined in the Municipal Affairs Act. The value of any other benefit or amenity, service, right or privilege provided by the employer shall be determined on the basis of cost to the employer under an arm’s length transaction as reduced by the employee’s contribution, if any: Under Section 15 of Income Tax Act, the salary due in previous years and even if it is not received is _____ a) Taxable (b) Not taxable (c) Partially taxable (d) None of the above 27. Income earned may come from different sources such as: Employment; Trade, Business, Profession or Vocation; Property or Investments; Other Sources (e.g. Interpretation. To claim tax benefit under Section 54B of the Income Tax Act, the following conditions will have to be satisfied: This benefit can only be claimed by an individual or a HUF. (a) Section 89(1) (b) Section89(2) (c ) Section 89(3) (d) Section89(4) 28. Remedy in case of irregularity of levy. It authorises the vendor of residential real estate to have their deposit released before settlement. Section 54B of the Income Tax Act, 1961, provides relief to taxpayers who sell their agricultural land and use the sale proceeds to acquire another agricultural land. It does not amount to further sub-leasing, as the applicant‟s rights as per the Deed of sub-lease stands extinguished after assignment. 32. If any land has been purchased through private negotiations by a person on or after the 5 th day of September, 2011, which is more than such limits referred to in sub-section (1) and, if the same land is acquired within three years from the date of commencement of this Act, then, forty per cent. 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