The Andhra Pradesh Value Added Tax Act, 2005 (AP VAT Act), marked a significant shift from the traditional sales tax regime to a more streamlined […]
Category: LLB 6th Sem IT Law
6. “Taxation Power is derived from Article 265 of the constitution of India” Explain theobjet of Taxation.
Taxation plays a vital role in shaping the economic structure of a nation. In India, the power to levy taxes is not arbitrary—it is constitutionally […]
4. What are the objectives and salient features of Income Tax Act 1961
The Income Tax Act, 1961, is one of the most vital legislations in India. It governs the rules and regulations for levy, collection, and administration […]
1. Explain the method of calculation of gratuity and its treatment on retirement for Government and non Government employees under Income Tax Act.
Gratuity is one of the most valued retirement benefits offered to employees in India. It serves as a monetary expression of gratitude from the employer […]
20. Previous year
In the context of Indian taxation, the term ‘Previous Year’ holds critical importance. It refers to the financial year in which a taxpayer earns income […]
28. Financial year and Assessment Year
Understanding the Basics: What is a Financial Year and Assessment Year? In simple words, the Financial Year (FY) is the year in which you earn […]
19. Assessment
In the realm of Indian income tax, assessment is the process by which the Income Tax Department evaluates the total income of a taxpayer and […]
18. Belated Returns
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 […]
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 […]
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 […]