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The Income Tax Act is a comprehensive legal framework governing direct taxation in India. Over the years, its provisions have evolved to accommodate changes in tax administration and compliance. One…
Introduction "Charitable purpose" is a critical concept under the Income Tax Act, 1961. It serves as the foundation for granting tax exemptions to trusts and institutions that genuinely operate for…
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When we discuss taxation in India, the concept of a "capital asset" plays a pivotal role in determining capital gains taxation. Defined under Capital Asset [Section 2(14)] of the Income…
The concept of business trusts was introduced by the Finance (No. 2) Act, 2014, to provide a structured and tax-efficient investment mechanism for infrastructure and real estate projects. Over time,…
The Income Tax Act, 1961, serves as the cornerstone of tax legislation in India, providing a clear framework for the assessment and taxation of income across various sources. Among its…
The Income Tax Act provides a comprehensive framework for maintaining proper records essential for tax compliance. One critical term under this framework is "books of account," defined in Section 2(12A)…
When navigating through the Income Tax Act, one encounters several key terminologies, each holding significant legal and administrative weight. Among these is the term “Board,” defined under Section 2(12) of…
"Block of Assets" is a crucial concept under the Income Tax Act, 1961, simplifying the computation of depreciation for assets used in business or professional activities. This blog delves into…
https://www.sahiprojectreport.com/Taxation in India can be complex, with various rates and provisions influencing how much tax an individual or entity pays. One crucial concept under the Income Tax Act, 1961 is…
The Income Tax Act, 1961, serves as the backbone of tax administration in India, supported by a well-defined hierarchy of income-tax authorities. Among these authorities, the designation of Assistant Director…