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https://www.sahiprojectreport.com/Long-term capital gains (LTCG) are a cornerstone concept in the Indian Income Tax Act, introduced by the Finance Act, 1987, and effective from April 1, 1988. Understanding LTCG is essential…
Long-term capital assets hold significant importance in the Indian tax regime, especially concerning capital gains taxation. This blog dives deep into the concept of a long-term capital asset, its legislative…
The term "liable to tax", introduced by the Finance Act, 2021, is a crucial concept in the Income Tax Act, 1961. While this phrase has long been used in several…
![Read more about the article Legal Representative [Section 2(29)] of the Income Tax Act](https://smarttaxsaver.com/wp-content/uploads/2024/11/images-19.jpg)
When it comes to tax administration, the legal representative plays a vital role in ensuring that a taxpayer's obligations and rights are not disrupted due to unforeseen circumstances like death.…
The introduction of the term "Joint Director" in the Income Tax Act, 1961, marked a significant step in the reorganization and smooth-running of income-tax dominance. This blog delves into the…
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The Finance Act, 2023, has brought notable changes to aerodynamic tax management in India, one of which is the introduction of the role Joint Commissioner (Appeals) under Section 2(28CA) of…
![Read more about the article Job of Joint Commissioner [Section 2(28C)] in the Income Tax Act](https://smarttaxsaver.com/wp-content/uploads/2024/11/360_F_84497187_pJzCZpjtfTZ99pHInCWGD3npQFdCOg64.jpg)
The Income Tax Act, 1961, is a comprehensive piece of legislation governing tax administration in India. To streamline tax enforcement, the Finance (No. 2) Act, 1998, introduced the term “Joint…
Introduction The Finance Act, 2001, introduced the term "insurer" under Section 2(28BB) of the Income Tax Act, effective from April 1, 2002. This inclusion aligns with the liberalization of India’s…
![Read more about the article Interest on Securities [Section 2(28B) of the Income Tax Act]](https://smarttaxsaver.com/wp-content/uploads/2024/11/1712855707-0344.webp)
Introduction The term "interest on securities" under the Income Tax Act, 1961, was introduced through the Finance Act, 1988, and is defined under Section 2(28B). Effective from April 1, 1989,…
When it comes to financial phraseology under the Income Tax Act, "interest" plays a crucial role in decide taxable income. The Finance Act, 1976 introduced the definition of "interest" under Section…