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Regular assessment is a crucial concept in Indian income tax law, defined under Section 2(40) of the Income Tax Act. This blog explores its meaning, legislative history, and relevance, providing…
The Income Tax Act, 1961, has undergone several amendments over the years to simplify and streamline taxation policies in India. One significant change was the omission of Section 2(39), which…
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Provident funds are critical for retirement savings, offering employees financial security and tax benefits. Among the various types of provident funds, the Recognized Provident Fund (RPF) holds a significant place…
"Rate or Rates in Force" is a fundamental concept under the Income Tax Act, introduced by the Finance (No. 2) Act, 1967. Defined under Section 2(37A), this term plays a…
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https://www.sahiprojectreport.com/The term public servant plays a critical role in Indian law, particularly under the Income Tax Act, 1961 and the Indian Penal Code, 1860 (IPC). In this blog, we will…
Public Sector Companies play a significant role in the Indian economy, bridging government initiatives and corporate efficiency. The Income Tax Act, 1961, under Section 2(36A), defines the term “Public Sector…
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https://www.sahiprojectreport.com/Professionals in various fields, such as law, medicine, accountancy, and more, play a crucial role in the economy. The Income Tax Act, 1961, recognizes the unique nature of their income…
https://www.sahiprojectreport.com/The term "Principal Officer" plays a crucial role in the administration and compliance framework of the Income Tax Act, 1961. Defined under Section 2(35), it identifies individuals or representatives tasked…
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The structure and hierarchy of the Income-Tax Department in India have undergone significant transformations over the years to ensure smooth administration and compliance. One such pivotal development was the introduction…
The Indian Income Tax Act, 1961, is a comprehensive piece of legislation designed to manage and regulate taxation in India. Among its many provisions, the introduction of the Principal Director…