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 […]
Tag: osmania university llb 6th semester previous question papers
3. Give the history and development of Income-tax law in India
History and Development of Income Tax Law in India: A Detailed Overview The Income Tax system in India forms the financial backbone of the nation’s […]
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 […]
2. Define “Perquisite”” and give a detailed account of perquisites exempt from Income Tax
Understanding Perquisites and Their Exemptions under Income Tax Laws (India) In the ever-evolving landscape of income tax laws, the term “Perquisite” plays a significant role, […]
30. Works Contract
What is a Works Contract in Simple Terms? A Works Contract is essentially a mix of both goods and services bundled into one contract — […]
29. Double Taxation Relief/ Double Taxation
What is Double Taxation and Why Does it Matter? Double taxation simply means being taxed twice on the same income — once in the country […]
42. Persons Not Liable for Registration under GST
Under the Goods and Services Tax (GST) regime in India, registration is a critical compliance requirement for businesses. However, not every individual or entity supplying […]
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 […]
41. Income Tax Authorities
Income Tax Authorities in India: Roles, Powers, and Legal Backing In India, Income Tax Authorities are empowered officials under the Income Tax Act, 1961, responsible […]
40. Reverse Charge Under GST
Understanding Reverse Charge Mechanism (RCM) under GST: A Simple Guide The Reverse Charge Mechanism (RCM) under the Goods and Services Tax (GST) in India flips […]