April 2025

Dividend Income Tax in India: A Comprehensive Guide Dividends, representing a share of a company's profits distributed to its shareholders, are a common source of income for many Indians. However, understanding the tax implications of dividend income under the Indian Income Tax Act, 1961, can be complex. This article aims to provide a clear and […]

Director, Manager, and Managing Agent: Understanding Income Tax Implications in India The Indian Income Tax Act, 1961, treats various individuals associated with a company differently concerning their tax liabilities. This article clarifies the tax implications for Directors, Managers, Managing Agents, and Director Generals under the Income Tax Act, emphasizing the distinctions between their roles and

Look-at-Test under Indian Income Tax: A Comprehensive Guide The "look-at-test" is a crucial aspect of determining the taxability of income under the Income Tax Act, 1961 in India. It's not a codified legal term but a practical approach used by tax authorities and courts to ascertain the true nature of a transaction and identify whether

Retrospective Effect of Provision for Appeal, Revision, or Rectification under Income Tax Act, 1961 The Income Tax Act, 1961, provides a comprehensive framework for assessing, collecting, and appealing tax liabilities. A crucial aspect of this framework involves the provisions for appeal, revision, and rectification, and the potential for these provisions to have retrospective effect. This

Retrospective Legislation Under Income Tax in India: A Comprehensive Overview Retrospective legislation, in the context of income tax, refers to laws that alter the tax implications of past transactions or events. This means a law is enacted with a retroactive effect, changing the legal framework applicable to actions that occurred before the law's enactment. In

Territorial Jurisdiction and Extraterritorial Operation of the Income Tax Act, 1961 The Income Tax Act, 1961 (the "Act"), governs the taxation of income in India. Understanding its territorial jurisdiction and extraterritorial reach is crucial for both residents and non-residents with income sources connected to India. This article delves into the intricacies of these aspects, clarifying

Concealment in Subsidiary Companies and Holding Structures under Indian Income Tax The intricate web of subsidiary companies and holding structures often presents opportunities for tax optimization, but also risks significant exposure to tax evasion accusations. Understanding the legal framework surrounding concealment of income within these structures is crucial for both businesses and tax authorities in

Duty of Assessing Officer under Income Tax Act, 1961 The Assessing Officer (AO) plays a pivotal role in the Indian Income Tax system. Their duties are multifaceted, encompassing assessment, reassessment, and enforcement of tax laws. Understanding the AO's responsibilities is crucial for both taxpayers and tax professionals. This article delves into the key duties of

Liabilities under Indian Income Tax Act Understanding liabilities within the context of the Indian Income Tax Act, 1961 is crucial for accurate tax computation and compliance. Liabilities, in this context, refer to the tax obligations an individual or entity incurs based on their income and applicable tax laws. This article delves into various aspects of

Understanding "Undertaking" under the Income Tax Act, 1961 The term "undertaking" in the context of the Income Tax Act, 1961 (ITA), is not explicitly defined. Its meaning is derived from its usage within various provisions of the Act and interpreted through judicial pronouncements. This ambiguity necessitates a careful examination of its contextual application across different