High Value Transactions

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...

Taxation of HUF

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 Act, and it...

Agricultural Income

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 in the total...