Section 40B of the Income Tax Act in India pertains to the deductions and limits on interest, salary, bonus, commission, or remuneration paid to partners by a partnership firm or...
Read MoreMicrofinance refers to a variety of financial services provided to low-income individuals or those who lack access to typical banking services. It includes microloans, micro-savings, and micro-insurance products designed to...
Read MoreThe Insurance Regulatory and Development Authority of India (IRDAI) has introduced comprehensive regulations titled “Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests and Allied Matters of Insurers)...
Read MoreThe Sensex and the Nifty are two major stock market indices in India that track the performance of the largest and most actively traded companies on the Bombay Stock Exchange...
Read MoreReturn on Equity (ROE) and Return on Capital Employed (ROCE) are both key financial ratios used to assess the profitability and efficiency of a company, particularly from the perspective of...
Read MoreIn India, agricultural income is exempt from income tax under Section 10(1) of the Income Tax Act, 1961. However, this exemption is subject to certain conditions and intricacies, especially when...
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Capital Gain
Property Used for Religious Purpose Ineligible for Sec. 54F Relief - ITAT
Read MoreIn a case where the taxpayer received an unsecured loan of Rs. 6.38 lakhs from a party and claimed that during the year, they had sold goods amounting to Rs....
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Income Tax Act 1961
Firm Not Required to Charge Interest/Salary per Partnership Deed: ITAT Surat
Read MoreThe Bombay High Court has recently addressed a case involving the Goods and Services Tax (GST) where the court had previously directed the authorities to issue a refund to the...
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