In the realm of tax compliance, Section 132B of the Income Tax Act holds a pivotal role. This section outlines how assets seized or requisitioned during search and seizure operations…
The Indian Income Tax Act, 1961, contains various provisions designed to tackle tax evasion and unaccounted wealth. One such significant provision is Section 69A, which focuses on the taxation of…
When dealing with capital assets, understanding the cost of acquisition is crucial for accurately calculating capital gains tax. Section 49 of the Income Tax Act, 1961, provides detailed guidelines on…
Introduction Transferring a capital asset to a partnership firm, Association of Persons (AOP), or Body of Individuals (BOI) is a significant event that can have important tax implications. Under the…