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 […]
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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 […]
8. Article 265 of the Indian Constitution
Article 265 of the Constitution of India lays down a fundamental principle of taxation in the country. It states: “No tax shall be levied or […]
23. Long term Capital gains
Understanding Long-Term Capital Gains (LTCG) Long-Term Capital Gains (LTCG) refer to the profit earned from the sale of a capital asset held for a longer […]
7. GST
Goods and Services Tax (GST) is a comprehensive, destination-based indirect tax levied on the supply of goods and services in India. Introduced on 1st July […]
6. Carry forward of business losses
Under Indian Income Tax Laws, a taxpayer is allowed to carry forward business losses to set them off against future income, thereby reducing their tax […]
5. Capital gains
Capital gains refer to the profit or gain that arises when a capital asset is transferred by an assessee. Under Indian tax laws, such gains […]
22. Clubbing income
What Is Clubbing of Income? Clubbing of income is a concept under Indian tax laws that prevents tax avoidance by transferring income to another person, […]