A belated return is a return of income filed after the due date prescribed under the Income Tax Act, 1961. Taxpayers are expected to file […]
Category: LLB 6th Sem Law of Taxation
Osmania Univerisity 3YDC 6th SEM Law of Taxation
37. Vat dealer
A VAT dealer refers to a person or business entity that is registered under the Value Added Tax (VAT) system and is authorized to collect […]
36. Entertainment Allowance
Entertainment Allowance is a specific benefit granted to employees, generally to cover expenses incurred while entertaining clients or customers on behalf of the organization. Under […]
17. De Novo Assessment on remand
De Novo Assessment on remand refers to a situation where a higher tax authority, tribunal, or court sets aside an earlier assessment and directs the […]
35. Characteristics of salary
Salary is a form of periodic compensation paid by an employer to an employee for services rendered under a contract of employment. In India, salary […]
34. Assessce
Assessment under Indian Tax Laws refers to the process by which the Income Tax Department determines the correct amount of tax payable by an individual […]
16. Foreign National Under Income Tax Act
A foreign national under the Indian Income Tax Act refers to an individual who is not a citizen of India but may still be liable […]
33. Income Tax.
Income tax in India is a direct tax levied by the central government on the income earned by individuals, Hindu Undivided Families (HUFs), companies, firms, […]
32. An Association of persons and A Body of individual Person under thePersons chargeable to/ Types of Persons under Income Tax Act
Under the Indian Income Tax Act, Association of Persons (AOP) and Body of Individuals (BOI) are important classifications of taxpayers. These terms are used to […]
26. Kinds of GST
Understanding the Different Types of GST The Goods and Services Tax (GST) is a unified indirect tax that replaced multiple taxes levied by the central […]