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Section 80GGC of Income Tax

Section 80GGC of Income Tax

by | Mar 21, 2024 | Other

Introduction:The 80GGC deduction under the Indian Income Tax Act allows for tax deduction on contributions made by Indian taxpayers to political parties or electoral trusts. In India, people usually support a political as per their political beliefs, however, this...

High Value Transactions

by | Mar 19, 2024 | Other

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

by | Mar 18, 2024 | Other

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...

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