What is Meaning of Lineal Descendants ?

Income Tax Act has used the word lineal descendants or ascendants at many places , specially when in the provision where the term relative...

Meaning of Profession and Vocation Explained ?

Readers are informed that under Income Tax Act , many provisions are not same for business and profession. Therefore meaning of word “profession “...

What is Meaning of Body of Individuals Under Income Tax Act ?

The Body of Individual is a person under Income Tax Act. Then Association of Person is also a person under the I.T.Act. often ,...

What is Meaning of Accumulated Profit Used in Sec. 2(22) of The Income Tax...

The definition of word Dividend is provided under section 2(22) of the Income Tax Act which includes the word "accumulated profits" . However ,...

What is the meaning of word “Property ” used in definition of Capital Asset...

The definition of capital asset is provided in section 2(14) of the income tax Act . It is seen that the definition starts "capital...

What is Meaning of Business Under Income Tax Act ?

The word business has seen a lot of dispute between tax payer and the tax department , because the income from business is assessed...

Connect

1,977FollowersFollow
2,938FollowersFollow
874SubscribersSubscribe

Would you like to install our new app ?