The Company Law in India defines a holding company as a commercial entity that is registered with the intention of controlling other businesses. Another legal entity may be owned by the holding company through share ownership or manage...
The excess amount that a shareholder gets from the liquidated firm over his initial investment in the share capital of that company will be subject to capital gains tax. The shareholder may be subject to tax under the title Capital gai...
With regards to the taxability of distributions of capital assets, stock-in-trade, or money by a partnership business to its partners on its dissolution or reconstitution, the Finance Act of 2021 introduced several substantial adjustments, which...
The topic of whether gifts are taxable is one that taxpayers ask themselves frequently and on a regular basis. You can learn about various provisions relating to the taxability of gifts received by an individual or a Hindu Undivided Fa...
Despite anything to the contrary stated in sections 28 to 43A, in the case of a taxpayer who is a non-resident, no allowance shall be made in computing the income chargeable under the head "Profits and gains of business or profess...
Despite anything to the contrary provided in sections 28 to 43C, in the event of a taxpayer engaged in the business of civil engineering applications or supply of labour for civil engineering applications, an amount equivalent to 8% of...
Advantages
(1) Combating Black Money
...The digital signature of the creator or author of the trust must be attached in order to submit an application under section 12a. An application for the establishment of a charitable or religious trust or organisation in accordance wit...
The Income Tax Act of 1961 (the "IT Act") offers a number of benefits to trusts that are registered under the IT Act and created for charitable or religious purposes. The substantive provisions for exemptions accessible to re...
This provision of the Income Tax Act of 1961 outlines the situations in which a Trust would not be eligible for exemptions under Sections 11 and 12. The Income Tax Act's Section 11 addresses the exclusion of income from assets held...