Angel Tax, introduced in 2012 under Section 56(2)(viib) of the Income Tax Act 1961, was a tax levied on startups receiving investments from angel investors when the amount raised exceeded the fair market value of the shares issued.
ITAT Mumbai rules that a Rs 20 lakh gift received from a brother in the UAE is exempt from tax under the Income Tax Act, providing clarity on tax-free gifts from relatives abroad.
Understand the risks associated with early tax filing.
On this special day, many brothers and sisters exchange gifts as a token of their love and bond. But what about the tax implications of these gifts?
15 August 2024
12581 Views
Download Automatic Income Tax Arrears Relief Calculator u/s 89(1) with Form 10E for the FY 2024-25 as per Budget 2024
Upholding ITAT's decision to delete income tax addition under Section 69 of the Income Tax Act (ITA) due to lack of direct evidence.
During divorce proceedings, obtaining your spouse’s Income Tax Return (ITR) statements is often crucial for determining financial obligations and fair maintenance.
The restoration of indexation benefits is a significant development, especially for those dealing with the transfer of land and buildings.
Find answers to your questions about tax audit reports.
12 August 2024
7536 Views
Download Auto Calculate Income Tax Preparation Software All in One in Excel for Govt and Non-Govt Employees for F.Y 2024-25 with Form 10E as per New Tax Slab as per Budget 2024 (July 24)
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
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