Question

Q5 Explain income tax act provisions regarding set off and carry forward of the capital

losses. Also explain when can a person be taxed in respect of income of other person giving

few examples?​

Answer 1

Answer:

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Income tax is a type of tax that governments impose on income generated by businesses and individuals within their jurisdiction. By law, taxpayers must file an income tax return annually to determine their tax obligationsIncome taxes are a source of revenue for governments. They are used to fund public services, pay government obligations, and provide goods for citizens.

Answer 2

Answer:

written above is right......