The Income Tax Act of India contains numerous provisions to ensure that businesses across various sectors are taxed appropriately. For companies operating in the shipping sector, the tonnage tax scheme…
The Indian Income Tax Act, 1961, offers several specific provisions for various sectors, and the tonnage tax regime for shipping companies is one of the most significant. Section 115VN deals…
When dealing with capital gains under the Income Tax Act, understanding the nuances of the cost of acquisition for specific capital assets is crucial. One such provision that impacts how…
Capital gains tax is a crucial aspect of taxation for individuals and businesses alike. Section 48(3) of the Income Tax Act plays a vital role in determining how capital gains…