Dividend under section 2(22)(a) of Income Tax Act
Section-2(22) deals with the term 'Dividend'. Sub clause (a) of section-2(22) talks about distribution....
Tax on Income of Mutual Funds & Dividend Distribution Tax
Section-10(23FC) of the Income Tax Act, 1961 provides for exemption for any income derived by a business trust....
Deduction for Medical Insurance Premium under section-80D
Deduction in respect of Medical Insurance Premium: Section-80D Nowadays, the risk arising from lifestyle di....
Acquisition of business assets by way of gift or inheritance
Acquisition of business asset by way of gift or inheritance [Explanation-2 to section-43(1)] Where any....
Conversion of stock in trade into capital asset
Conversion of stock in trade into asset to be used for business purposes: [Explanation-1 to Section 43(1)]....
Fair Market Value of asset under Rule-11UAB
Fair Market Value of inventory under Income Tax Role of Rule-11UAB comes into play where an assessee conver....
Actual Cost for charging depreciation under Income Tax
HOW TO CALCULATE “ACTUAL COST” FOR THE PURPOSE OF “BLOCK OF ASSETS” Section-43(1) o....
Written Down Value for Income Tax Purposes
For the purpose of ascertaining depreciation under Income Tax Act, it is first necessary to ascertain written....
What is Block of Assets
What is Block of Assets for Income Tax Block of Asset [Section-2(11)] “Block of Assets means a gro....
DEPRECIATION RATES UNDER INCOME TAX ACT (AY 2020-21 & Onwards)
Rates of depreciation as prescribed by the Income Tax Act Blo....