May 2025

Extinguishment of Rights Under Transfer in Relation to a Capital Asset: An Income Tax Perspective Understanding the intricacies of capital gains tax in India requires careful attention to the definition of "transfer" under the Income Tax Act, 1961. A key element within this definition is the “extinguishment of any rights therein” in relation to a […]

Relinquishment Under Transfer in Relation to a Capital Asset: An In-Depth Analysis Under Indian Income Tax Law Understanding the nuances of "transfer" under the Income Tax Act, 1961, is crucial for accurately calculating capital gains tax. One specific aspect often requiring clarification is "relinquishment" in the context of transferring a capital asset. This article delves

Exchange Under Transfer in Relation to a Capital Asset: An Income Tax Perspective (Indian Law) Understanding the nuances of "transfer" under the Income Tax Act, 1961 (hereinafter referred to as "the Act") is crucial for determining capital gains liability. While the Act defines various scenarios that constitute a transfer, the specific case of "exchange" often

Sale Under Transfer in Relation to a Capital Asset: An Income Tax Perspective Under Indian Law Understanding the nuances of capital gains tax is crucial for anyone dealing with property, shares, or other investments. A key aspect of this is understanding what constitutes a 'transfer' of a capital asset, especially when a 'sale' is involved.

Scope of the Definition Under Transfer in Relation to a Capital Asset Under Income Tax (Indian Law) Understanding the definition of "transfer" in the context of capital assets is crucial for determining tax liability under the Income Tax Act, 1961 (hereinafter referred to as "the Act"). A capital gain arises only when a "transfer" of

Transfer in Relation to a Capital Asset under Income Tax: A Comprehensive Guide (Indian Law) Understanding the concept of "transfer" is crucial under the Income Tax Act, 1961, because it triggers capital gains tax. This article delves into the meaning of transfer as it relates to capital assets, covering various scenarios, legal provisions, and relevant

Total World Income Exempt from Tax Under Indian Income Tax Law Understanding which portions of global income are exempt from taxation is crucial for Indian residents with foreign income sources. This article provides a detailed overview of the exemptions and reliefs available under Indian Income Tax Law concerning total world income. It aims to clarify

Understanding Total Income Under Indian Income Tax Law Calculating your "Total Income" is a crucial step in determining your income tax liability under the Income Tax Act, 1961. It’s not simply the sum of all money you receive. Instead, it's a specific calculation defined by law, involving classifying income under different heads and applying deductions

Tax Recovery Officer Under Income Tax Act, 1961: Powers, Procedures, and Legal Aspects in India The recovery of tax dues is a critical function of the Income Tax Department in India. When a taxpayer fails to pay assessed taxes within the stipulated time, the department initiates recovery proceedings. A key player in this process is

Understanding Income Tax in India: A Comprehensive Guide Income tax is a pivotal element of India's financial ecosystem, contributing significantly to the nation's revenue. It’s a direct tax levied by the Government of India on the income earned by individuals, Hindu Undivided Families (HUFs), companies, firms, and other entities. Understanding the intricacies of income tax