It is often observed in the case of certain trusts that incomes or gains accrue or accumulate over a period. Usually, the objective of the funds received by trust are to utilise the same for charitable purposes or purposes on which grounds the...

Sale of capital assets is one of the important areas where taxation plays an important role. Any gains arising on such sale of capital assets are also eligible for certain deductions from income tax. Capital gains usually long term capital gains...

Advance tax, also known as "pay-as-you-earn" tax, is the income tax payable in advance by taxpayers on their estimated income for the current financial year, where this tax is paid in instalments instead of paying a lump sum tax at the end of the...