Answer to Question #238196 in Law for Zia

Question

Do Interpretation of the data given below in a professional manner.

(5) Sub-section (4) shall not apply where the fair market rent is included in the income of the lessee chargeable to tax under the head "Salary".

(6) Income under this section derived by an individual or an association of persons shall be liable to tax at the rate specified in Division VIA of Part 1 of the First Schedule.]

(7) The provisions of sub-section (1) shall not apply in respect of an individual or association of persons who derive income chargeable to tax under this section not exceeding two hundred thousand rupees in a tax year and does not derive taxable income under any other head.

Answer 1

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