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Gujarat High Court on Reassessment Notices: Defining Validity and Protecting Taxpayer Rights
Introduction In a significant ruling that has implications for taxpayers and the Income Tax Department alike, the High Court of Gujarat at Ahmedabad, in its decision on reassessmen
Capital Gains under Income Tax Act, 1961: Understanding the Fourth Head of Income in Detail
Introduction Under the Income Tax Act, 1961, the computation of income is categorized into five heads, with Capital Gains being one of them. Capital Gains entail profits or gains d
Understanding Slump Sales: A Comprehensive Guide
Introduction and Meaning A slump sale refers to the transfer of an entire business undertaking, or part thereof, from one entity to another as a going concern. In a slump sale, all
INCOME FROM HOUSE PROPERTY
Introduction: Earnings from capital asset refers to any income earned from a house property, either in the form of rent or through its sale. The Income Tax Act treats any property,
Tax Exemptions Under Indian Law: A Comprehensive Analysis of Section 10 and Related Provisions of the Income Tax Act, 1961
Introduction Tax exemptions represent a cornerstone of India’s fiscal policy framework, serving as powerful instruments to incentivize specific economic activities, promote s