A deduction should be granted for any ship, aircraft, machinery, or plant that belongs to the assessee and is used exclusively for the conduct of his business in the prior year in which the ship, aircraft, machinery, or plant was purch...
The tax you pay on your income is known as income tax. Individuals who spent at least 60 days in India during the previous tax year and at least 365 days in India over the four years prior are subject to income tax. Individuals who spe...
The compensation given by the employer to the employees for the services provided during a specific time period is known as a salary. It is paid at regular intervals, or one-twelfth of the yearly income is paid each month....
Despite the fact that it has been 50 years since the country gained its freedom, the housing crisis is becoming worse. India's real estate sector is growing in terms of market dynamics since 1994, when the nation saw significant in...
A constitutional authority known as the Finance Commission is responsible for allocating specific revenue resources between the Union Government and the State Governments. It was created by the Indian President in accordance with Artic...
A trust deed, which is a binding legal agreement between the settlor and the trustee, is legalised by the registrar of the relevant country through the trust registration procedure. The Trust acts as a formal vehicle responsible for th...
1. Choose a name for the trust's apartment
The name of the prospective Trust must be chosen as...
1. Participate in charitable endeavours
A charitable trust is basically a technique to organise your as...
The following are included within the definition of "perquisite":-
(i) the value of any rent-...
If an assessee's total income includes money subject to tax under the "Profits and Gains of Business or Profession" category and, out of such income,
...