The Indian Income Tax Act includes provisions to regulate cross-border transactions and prevent tax evasion. One such rule is Section 9(1)(viii), which outlines the tax implications of sums of money…
Gifts are a common occurrence in everyday life, especially during festivals, family events, and other personal celebrations. However, when it comes to taxation, not all gifts are free from tax…
When it comes to the taxation of immovable property transactions, the Income Tax Act has specific provisions to ensure that these transactions are reported at their fair market value. One…