SS LAW CODES

Body of Individuals (BOI) under Income Tax Act, 1961: A Comprehensive Guide Understanding the various entities that are assessed for income tax purposes is crucial for individuals and businesses alike. In the Indian Income Tax Act, 1961, besides individuals, Hindu Undivided Families (HUFs), firms, companies, and other artificial juridical persons, a "Body of Individuals" (BOI) […]

Joint Venture vs. Consortium under Income Tax in India: A Detailed Analysis Navigating the intricacies of income tax law in India requires a clear understanding of various business structures, including joint ventures and consortia. While both involve collaboration between entities, their legal and tax implications differ significantly. This article delves into the distinctions between joint

Essence of ‘Association’ Depends on the Facts of Each Case Under Income Tax in India Determining whether an "Association of Persons" (AOP) exists under the Income Tax Act, 1961, is a recurring and often complex issue. Unlike companies or firms, an AOP is a less formally defined entity, and its existence hinges primarily on the

Illegal Association of Persons (AOP) Under Indian Income Tax Law: A Comprehensive Guide The Income Tax Act, 1961, recognizes various forms of entities for taxation purposes, including individuals, Hindu Undivided Families (HUFs), companies, firms, and Association of Persons (AOPs). While an AOP is a legitimate form of assessment, there are instances where an association can

Co-owners Under Person in Income Tax: An Indian Law Perspective Co-ownership of property is a common phenomenon in India, especially in real estate. Understanding how income from such properties is taxed under the Income Tax Act, 1961, is crucial for co-owners to comply with the law and optimize their tax liabilities. This article delves into

Connotation and Meaning Under "Person" in Income Tax: An Indian Law Perspective Understanding the definition of "person" under the Income Tax Act, 1961, is crucial for determining tax liability. This definition is broader than its ordinary meaning and includes various entities beyond individual human beings. This article delves into the connotation and meaning of "person"

Association of Persons (AOP) Under Indian Income Tax: A Comprehensive Guide An Association of Persons (AOP) is a concept crucial to understanding income tax implications in India. It's a significant category of assessees, distinct from individuals, Hindu Undivided Families (HUFs), companies, firms, and others. This article provides a detailed overview of AOPs under Indian Income

Firm Under Person: Income Tax Implications in India Understanding the interplay between a "Firm" and a "Person" under the Income Tax Act, 1961, is crucial for tax planning and compliance in India. This article provides a comprehensive overview of how firms and individuals are treated under the Act, clarifying their distinct legal identities and tax

Company Under Person: Income Tax Implications in India Understanding the nuances of income tax laws in India can be complex, especially when dealing with entities structured as companies controlled by individuals. This article delves into the concept of "Company Under Person" (often referred to as personal service companies or one-person companies with intricate ownership structures)

Reference to Court Under Income Tax: A Comprehensive Guide (Indian Law) Introduction The Income Tax Act, 1961 empowers various authorities to administer and enforce its provisions. While most disputes are resolved through internal mechanisms like assessments, appeals, and revisions, certain complex legal questions may necessitate a reference to the High Court or even the Supreme