Section 80 of the Income Tax Act, 1961, governs the conditions under which a taxpayer can carry forward and set off losses from previous years. This section is crucial for…
In the constant fight against tax evasion, the Indian government introduced Section 79A of the Income Tax Act through the Finance Act, 2022. This significant amendment, effective from April 1,…
Tax laws play a crucial role in the financial planning of companies, especially when it comes to managing losses. Section 79 of the Income Tax Act governs the rules related…
The Income Tax Act of India contains numerous provisions that specify how different types of income and losses are treated for taxation purposes. One such provision is Section 74A, which…
When it comes to corporate amalgamations, particularly in the banking and insurance sectors, taxation plays a pivotal role in determining how smooth and efficient the transition can be. One crucial…
Managing business losses is an integral part of financial planning, and the Indian Income Tax Act provides clear provisions to help businesses handle such situations effectively. Section 72 of the…