According to section 2(31) of the Income-tax Act, a 'person' includes - Individuals, Partnership Firms, HUF, Companies, AOP, Local authorities, or any other artificial judicial person.
Financing plays a major role in business. A business can flourish only when the finances are well managed. From Start-up to expansion of business and even to carry day to day business, funds are needed.
In India, a gift is exempted up to Rs. 50,000 and gifts from specific relatives such as parents, spouses and siblings are also exempted from tax. Gifts other than those received from specified relatives are taxable.
Capital gains are the amount of net profits(gains) that the investor makes from selling of any capital assets over the purchase price of that assets. The entir...
22 September 2021
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Tonnage taxation is a presumptive taxation scheme under which qualifying shipping companies operating qualifying ships are given this option.
Rule 112 of the Income Tax Rules'1962 lays down the procedure, forms of authorization, manner and other procedural effects of carrying out search and seizure action as enumerated u/s 132 of the act.
An Indian Citizen who leaves India during the PY for the purpose of employment or as a member of the crew of an Indian Ship
Method for Determining Expenditure Incurred Towards Earning Income Not Forming part of Total Income - Section 14A and Rule 8D
A cryptocurrency is digital, decentralized currencies that are issued by a private enterprise to work as a consideration of transaction between two individuals or businesses without any direct interference from the government.
Provisions of Section 44AB has been explained in this article.
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