Income is Taxed in the Same Year

Lecture Notes on Income Tax

Section 172 - Shipping Business of Non-Residents (NR)

If a non-resident's ship arrives at an Indian port, it cannot leave until all applicable taxes are paid on income earned from that voyage.

Section 174 - Person Leaving India

If an individual is leaving India with no intention of returning, the income earned by that person up until their expected departure date is taxed in the current year itself.

Section 174A - AOP/BOI/AJP Formed for a Specific Event or Purpose

If an AOP, BOI, or AJP is created for a specific event or purpose and is expected to dissolve within the same year, the income up to the date of dissolution is taxed in that year.

Section 175 - Persons Likely to Transfer Property to Avoid Tax

If a person is likely to transfer property to avoid paying taxes, the AO can tax that person's total income in the current year itself.

Section 176 - Discontinued Business

If a business or profession is discontinued, the income earned up until the date of discontinuance may be taxed in the current year at the AO's discretion.