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When we discuss taxation in India, the concept of a "capital asset" plays a pivotal role in determining capital gains taxation. Defined under Capital Asset [Section 2(14)] of the Income…
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…
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…
In the intricate world of tax laws, understanding the nuances of specific sections can be crucial for taxpayers and professionals alike. One such critical section is Section 43C of the…