The Finance Act, 2016, marked a significant landmark in modernizing India's tax administration system by introducing the Explanation of "hearing" under Section 2(23C) of the Income Tax Act. Effective from…
When dealing with income tax provisions, the term "child" carries significant implications, particularly in areas such as income clubbing, exemptions, and deductions. Introduced by the Taxation Laws (Amendment) Act, 1975,…
Introduction "Charitable purpose" is a critical concept under the Income Tax Act, 1961. It serves as the foundation for granting tax exemptions to trusts and institutions that genuinely operate for…
![Read more about the article Advance Tax [S. 2(1)]: A Complete Guide to Understanding the Concept and Its Provisions](https://smarttaxsaver.com/wp-content/uploads/2024/11/Advance-Payment-Of-Tax-1024x536-1.png)
Introduction The introduction of advance tax under the Direct Tax Laws (Amendment) Act, 1987, effective from April 1, 1989, marked a significant step in ensuring timely tax compliance. Defined under…
When it comes to taxation in India, clarity in legal terminology is crucial for taxpayers and professionals alike. Shttps://www.sahiprojectreport.com/ection 2 of the Income Tax Act, 1961, serves as the cornerstone…
Introduction In the complex framework of the Income Tax Act, one area that frequently raises questions is the jurisdictional authority of Assessing Officers. Understanding this structure is essential, especially in…
In the vast and complex structure of the Indian Income Tax Act, specific sections are assigned to various rules, regulations, and guidelines that affect taxpayers and the administration of taxation.…
Housing projects play a crucial role in the infrastructure development of any country, and India is no exception. To incentivize businesses that contribute to such projects, particularly those aided by…
In India, various tax provisions incentivize businesses to promote growth in backward and underdeveloped regions. One such important provision is Section 80HH of the Income Tax Act, which provides tax…
When it comes to managing personal finances, health insurance is an important aspect of securing your future. To encourage individuals and families to invest in health insurance, the Indian government…