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Concept Of Income Under Income Tax Act

Legal / E-Newsletters
Charitable and religious organisations are subject to separate computation of income under section 11 and the respective clause of section 10(23C). Once a charitable organisation is eligible for tax exemptions then its income is no longer required to be computed under five heads of income under section 14 of the Income Tax Act. This issue of Standard and Norm basically deals with the concept and definition of Income, Total Income, Total Receipts, Aggregate Receipts under various provisions of Income Tax Act, 1961 and determining income for Audit Requirement. For detailed analysis of the above, please read this issue.
Language : English
Isbn :
No of pages :
Publisher : Financial Management Service Foundation
Author Information : Dr. Manoj Fogla, CA Suresh Kumar Kejriwal, Dr. Sanjay Patra and Mr. Sandeep Sharma
Published Date : 04-11-2024
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Dr. Manoj Fogla, CA Suresh Kumar Kejriwal, Dr. Sanjay Patra and Mr. Sandeep Sharma

About Author

Dr. Manoj Fogla, specialises in governance, legal & finance issues related to voluntary organisations. He is consultant to various international funding agencies, voluntary organizations and corporate foundations. 

Suresh Kumar Kejriwal is working with NGO sector since last more than 22 years. He has facilitated the process of formulating guidelines for the financial management system for NGO sector.

Dr. Sanjay Patra, A seasoned professional with a demonstrated history of working in the development sector, holds a Doctor of Philosophy (Ph.D.) focused in Monitoring and Reporting of NGO projects in India – Trends and Challenges.

Mr. Sandeep Sharma serves as the Executive Director at Financial Management Service Foundation. A seasoned trainer, facilitated more than 500 workshops across the globe on financial management, NPO governance and legal compliances.

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