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What is Assessment of association of persons or body of individuals or artificial juridical person formed for a particular event or purpose? What is Assessment of persons likely to transfer property to avoid tax? Section 174A and 175 of Income Tax Act 1961

Assessment of association of persons or body of individuals or artificial juridical person formed for a particular event or purpose and Assessment of persons likely to transfer property to avoid tax are defined under section 174A and 175 of Income Tax Act 1961. Provisions under these Sections are :

Section 174A of Income Tax Act "Assessment of association of persons or body of individuals or artificial juridical person formed for a particular event or purpose"

Section 174A. Notwithstanding anything contained in section 4, where it appears to the Assessing Officer that any association of persons or a body of individuals or an artificial juridical person, formed or established or incorporated for a particular event or purpose is likely to be dissolved in the assessment year in which such association of persons or a body of individuals or an artificial juridical person was formed or established or incorporated or immediately after such assessment year, the total income of such association or body or juridical person for the period from the expiry of the previous year for that assessment year up to the date of its dissolution shall be chargeable to tax in that assessment year, and the provisions of sub-sections (2) to (6) of section 174 shall, so far as may be, apply to any proceedings in the case of any such person as they apply in the case of persons leaving India.

 

Section 175 of Income Tax Act "Assessment of persons likely to transfer property to avoid tax"

Section 175. Notwithstanding anything contained in section 4, if it appears to the Assessing Officer during any current assessment year that any person is likely to charge, sell, transfer, dispose of or otherwise part with any of his assets with a view to avoiding payment of any liability under the provisions of this Act, the total income of such person for the period from the expiry of the previous year for that assessment year to the date when the Assessing Officer commences proceedings under this section shall be chargeable to tax in that assessment year, and the provisions of sub-sections (2), (3), (4), (5) and (6) of section 174 shall, so far as may be, apply to any proceedings in the case of any such person as they apply in the case of persons leaving India.

   
 

Income Tax Act 1961

What is Liability of representative assessee? What is the Right of representative assessee to recover tax paid Section 161 and 162 of Income Tax Act 1961

Who may be regarded as agent? What is Charge of tax where share of beneficiaries unknown? Section 163 and 164 of Income Tax Act 1961

What is Charge of tax in case of oral trust? What is the case where part of trust income is chargeable? What is Direct assessment or recovery not barred? Section 164a, 165 and 166 of Income Tax Act 1961

What are Remedies against property in cases of representative assessees? What is Charge of tax in the case of a firm? What is Charge of tax where shares of members in association of persons or body of individuals unknown? Section 167, 167A and 167B of Income Tax Act 1961

What are Liability of partners of limited liability partnership in liquidation? Who are Executors? Section 167C and 168 of Income Tax Act 1961

What is Right of executor to recover tax paid? What is Succession to business otherwise than on death? Section 169 and 170 of Income Tax Act 1961

What is Assessment after partition of a Hindu undivided family? What is Shipping business of non-residents? Section 171 and 172 of Income Tax Act 1961

What is Recovery of tax in respect of non-resident from his assets? What is Assessment of persons leaving India? Section 173 and 174 of Income Tax Act 1961

What is Assessment of association of persons or body of individuals or artificial juridical person formed for a particular event or purpose? What is Assessment of persons likely to transfer property to avoid tax? Section 174A and 175 of Income Tax Act 1961

What is Discontinued business? What is Association dissolved or business discontinued? Section 176 and 177 of Income Tax Act 1961

What is Company in liquidation? What is Liability of directors of private company in liquidation? What is Royalties or copyright fees for literary or artistic work? Section 178, 179 and 180 of Income Tax Act 1961

 

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