Income Tax

Narendra Kumar

18 Dec, 2020

Why will Investment in under-construction property not be treated as Purchase? As per section 54 of the Income Tax Act, 1961[1] acquisition of new flat in...

Narendra Kumar

08 Sep, 2020

Under the provisions of the Income Tax Act, 1961[1] an assessed can acquire a Capital Asset as defined under section 2(14) of the Act with or without consi...

Narendra Kumar

28 Dec, 2021

According to the provisions of the Income Tax Act 1961, income tax return filing is levied on the income of a person by the Government of India. It is levi...

Narendra Kumar

28 Dec, 2021

Share Premium is a capital receipt. Start-ups are issuing shares at a premium. In recent times, the Government of India has been proposing various incentiv...

Ashish M. Shaji

29 Dec, 2020

An individual can take benefit of an income Tax Refund once his tax liability is below actual taxes which he has paid. This happens when the advance tax, s...

Ashish M. Shaji

09 Jun, 2022

Rules and regulations related to income tax raid or search and seizure was first framed in the Income Tax Act, 1956 by the Income Tax Department....

Ashish M. Shaji

16 Dec, 2020

Income Tax refund is a refund from the income tax department. It can be in the form of advance tax, tax deducted at source etc. In this article we shall......