May 10, 2008

On Why I Am SO Not Made For This Career


44[Explanation 1.In this section, assessed tax means the tax on the total income determined under sub-section (1) of section 143 and where a regular assessment is made, the tax on the total income determined under such regular assessment as reduced by the amount of,
any tax deducted or collected at source in accordance with the provisions of Chapter XVII on any income which is subject to such deduction or collection and which is taken into account in computing such total income;
any relief of tax allowed under section 90 on account of tax paid in a country outside India;
any relief of tax allowed under section 90A on account of tax paid in a specified territory outside India referred to in that section;
any deduction, from the Indian income-tax payable, allowed under section 91, on account of tax paid in a country outside India; and
any tax credit allowed to be set off in accordance with the provisions of section 115JAA.]

- From the Income Tax Act

What beats me is that the damn thing is called an explanation.


P.S. An apology to all those people who left huge argumentative comments on the last post. I usually enjoy those but this time, I just got bored of replying. :) People who were nice, thank you and... ahem... keep coming? (Yes, blog promotion here also.) To the ones who left nasty comments, hey, I'm glad that fighting over the Internet with someone you don't know, and who doesn't care, made your day. :D



Asterix said...

I can't believe you put hazaar hyperlinks to the mind-numbing income tax laws!!

And I can't believe that with a work-area like this, you haven't taken to alcohol already.

Shrey said...


Mudra said...

@asterix: No, man! The IT government site (from where I copy-pasted this) cross-links all its sections. And if I took to alcohol now, it would affect my (already pathetic) performance at work. ;)

@shrey: Yeah, yeah, I hear the "Told you so" in that "hmmm.." :P

ess said...

Question 1: Where exactly do you work?
Question 2: How in heaven's name did you get suckered into working at whatever it is you do?!

Over Rated said...

Lol!! And I thought my work sucked!!!

and this is why i never pay taxes!!:P

*goes away now*

Shrey said...

I had intended to make you hear much more than 'Told you so". Maybe even "Its not too late" :)

Bhavin Mehta said...

Hey Mudra, just came across ur blog randomly and i wanna tell u something..
"I ve become a big time fan of ur posts.."
Gr8 work!!

the Monk said...

Dudette, I'm totally with you on the last post. In fact, I think I've written something of the sort a while back. You've got yourself another reader.

Mudra said...

@ess: Now, now, it's not nice to make fun of the students who do this willingly for a bloody degree.

@overrated: Thanks for the motivation.

@shrey: Okay... Now stop. :P

@bhavin: Thanks! Don't I know you from college?

@the monk: Thank you... Nice blog of yours - glanced through it. Will read properly soon. :)

LorD said...

i just read this .. nice one...

As an aside not
I can feel the pain ur going thru coz I have THREE BLOODY CA FRIENDS who drive me nuts on weekends...

how i wish i had been a lil more persuasive in driving them away from commerce