April 2025

Interest under Income Tax: Understanding the Legal Landscape in India In the realm of income tax, interest is a crucial component that taxpayers need to understand to ensure compliance with the law. In India, the Income Tax Act, 1961, governs the taxation of income, and interest plays a significant role in the computation of tax […]

Indian Company Income Tax: A Complete Guide Every business entity operating in India is subject to taxation under the Income Tax Act, 1961. Indian companies, including domestic and foreign entities, are required to comply with the provisions of the Income Tax Act to fulfill their tax obligations. In this comprehensive guide, we will explore the

Reference to Court Under Income Tax Act Under the Indian Income Tax Act, taxpayers have the right to appeal to the appropriate court if they are dissatisfied with any decision or order by the income tax authorities. The reference to court under the Income Tax Act is an important legal remedy available to taxpayers to

Subsidy, Grant, and Cash Incentive under Indian Income Tax In India, the concept of subsidy, grant, and cash incentive under income tax is a crucial aspect that both businesses and individuals need to comprehend. These financial benefits play a significant role in influencing the overall tax liabilities of taxpayers. Therefore, understanding the nuances of subsidies,

Income From Other Sources Under Income Tax Income from other sources is a category of income that is taxed under the Income Tax Act, 1961. It includes income that does not fall under the categories of salary, house property, business or profession, and capital gains. This article will discuss the various types of income that

Inventory Under Income Tax: A Complete Guide When it comes to income tax in India, inventory plays a crucial role in determining the taxable income of businesses. Understanding how inventory is accounted for and valued under income tax laws is essential for businesses to comply with the regulations and properly report their income. In this

Capital employed is not income under Income Tax In the realm of income tax, it is important to understand the distinction between capital employed and income. The concept of capital employed is often misunderstood in the context of income tax, leading to confusion and potential legal issues for taxpayers. This article aims to clarify the

Non-compete Fees and Exclusive Rights Under Income Tax In India, the concept of non-compete fees and exclusive rights under income tax law is a crucial aspect for businesses and individuals to understand. Non-compete fees are payments made to an individual or entity in exchange for agreeing not to compete with the payer for a specified

Winnings from Lotteries, Crossword Puzzles, Card Games, and other Games of any Sort Under Income Tax Taxation of income from winnings is an important aspect of income tax laws in India. Winnings from lotteries, crossword puzzles, card games, and other games of any sort are treated as income under the Income Tax Act, 1961. This

Capital Gains Chargeable under Section 45 Under Income Tax Under the Indian Income Tax Act, 1961, capital gains are chargeable to tax under Section 45. This provision specifies the circumstances under which capital gains arise and the manner in which they are to be taxed. Understanding the nuances of Section 45 and its implications is