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The term Fair Market Value (FMV) plays a pivotal role in Indian taxation, particularly in the computation of capital gains and valuation of assets. Introduced by the Finance Act, 1964,…
Section 56 of the Income Tax Act is a crucial provision that addresses the taxability of various income streams categorized as "Income from Other Sources." One significant aspect covered under…
Introduction In the dynamic world of business reorganization, slump sales are a common occurrence where entire business undertakings or divisions are sold as a going concern. However, the taxation of…
When dealing with the transfer of assets held by trusts or institutions, the computation of capital gains can be a complex process. One critical factor in this calculation is determining…
The Income Declaration Scheme (IDS) 2016 provided an opportunity for taxpayers in India to declare undisclosed income or assets and bring them into the tax fold. One of the significant…