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…
India's tax laws are continually evolving to improve administrative efficiency and align with global best practices. One such significant change was the omission of Section 2(27) of the Income Tax…
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…