India’s Income Tax Act provides special relaxations to senior and super senior citizens to ease their compliance burden and reduce financial strain during retirement years. […]
Income Tax Act
Fundamentals of Income Taxation Under the Income Tax Act, 1961
The assessment year is the twelve months beginning on April 1 of a given year and ending on March 31 of the following year. For […]
Understanding Capital Assets Under Section 2(14) of the Income Tax Act
Section 45 of the Indian Income Tax Act is a key provision dealing with the taxation of capital gains arising from the transfer of capital […]
A Comprehensive Review of Section 37 of the Income Tax Act, 1961
Section 37 of the Income Tax Act, 1961 serves as a residuary provision for allowing deductions that do not fall under Sections 30 to 36. […]
Understanding Section 56(2)(x): Tax Implications on Gifts and Transfers
Section 56(2)(x) of the Income Tax Act is applicable when any person receives any sum of money or property, whether movable or immovable, without adequate […]