Introduction:High-value transactions in income tax typically refer to financial transactions or activities that involve significant amounts of money. These transactions are usually subject to closer scrutiny by tax authorities due to their potential impact on tax liabilities. These transactions are…
Hindu Undivided Family (HUF) is defined as a separate tax entity that consists of individuals lineally descended from a common ancestor and includes their wives and unmarried daughters. HUF is recognized as a distinct assessable entity under the Income Tax…
Demonetization period in the Indian economy is considered as one of the most significant event since government had undertaken an important step in curbing out the black money from the Indian market. The demonetization decision came with certain challenges for…
Introduction:The agricultural sector plays a crucial role in the economic perspective of any nation, both in developed and developing economies. As per Section 10(1) of the Income Tax Act, agricultural income is exempt from income tax and is not included…
Introduction:Futures and options are derivative financial instruments that derive their value from an underlying asset such as stocks, indices, currencies, or commodities. These instruments are popular among investors and traders for hedging, speculation, and portfolio diversification. Talking in layman’s terms…
Introduction:In today’s globalized world, where businesses transcend borders and individuals relocate for work and investment opportunities, the issue of double taxation has become increasingly relevant. To address this challenge, countries often enter into Double Taxation Avoidance Agreements (DTAA) to provide…
Introduction:India is witnessing sharp rise in online gaming sector as well as in betting sector. Many platforms offer winnings on completion of a particular game or upon winning a bet. This is one of the significant factor government has looked…
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