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 […]
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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 […]
31. Cancellation of certificate of registration of Vat dealer
Under Indian Tax Laws, particularly the VAT (Value Added Tax) regime which was implemented by individual states before the introduction of GST, the cancellation of […]
25. Person
Who is Considered a ‘Person’ in Income Tax? In Indian tax law, the term “person” has a broader meaning than in general usage. It does […]
15. Assessment Year
In Indian tax laws, the Assessment Year (AY) is the 12-month period starting from April 1 to March 31 of the following year in which […]
24. Due dates of advance tax payments other than Individual & HUF
Understanding Advance Tax for Non-Individuals Advance tax is the payment of income tax in installments throughout the financial year instead of a lump sum at […]
14. Income Liable to Tax
In India, income liable to tax refers to all income earned by a person that falls under the scope of taxation as defined by the […]
10. Income from House.
Income from house property is one of the five heads of income under the Indian Income Tax Act, 1961. It refers to the rental income […]
9. Residential status
The residential status of an individual is a crucial factor in determining their tax liability under Indian Income Tax Law. It determines the scope of […]
13. Agricultural Income
Agricultural Income refers to the revenue earned from agricultural activities like farming, harvesting, and renting agricultural land. Under Indian tax laws, agricultural income is exempt […]