Any Profit or gain arising from the transfer of Capital asset is taxable as a Capital Gain u/s 45 of the Income Tax act, 1961. It is relevant to determine whether Capital Gain is short term capital gain or long term capital gain as it affects the rate of Income Tax.
One of the fundamental concepts of corporate law is the principle of limited liability. It enables business owners to limit their personal liability for the debts and obligations of their company to the amount of their investment in the company
The provision relating to Residential Status in India is governed by Section 6 of Income Tax Act, 1961. Necessity to determine residential status is significant to determine total income of taxpayers in India. Generally, taxpayers are classified as Residents or Non-Residents.
Discover the impact of Budget 2023 on Personal Income Tax, including changes in tax rates, exemptions, deductions, and the choice between old and new tax regimes.
Learn about Annexure V, a declaration form for Goods Transport Agencies (GTA) to opt for paying GST under forward charge, impacting tax liabilities and compliance procedures.
Discover the key provisions of the Mines & Minerals (Development & Regulation) Act, 1957, and Rules 1960, governing mining operations in India, including licensing, concessions, and environmental protection.
Explore the current status of Production Linked Incentive (PLI) in India and its impact on private sector investment towards achieving the $5 trillion GDP goal.
Learn how to set up a business in Singapore efficiently with steps, regulations, and tax benefits explained. Explore the process and incentives here.
Section 139AA of the Income Tax Act provides that every individual who has been allotted a permanent account number (PAN) as on the 1st day of July, 2017, and who is eligible to obtain an Aadhaar number, shall intimate his Aadhaar number in the prescribed form and manner.
HC of Singapore rendered an interesting decision in case of Herbalife International Singapore Pte Ltd on the issue of valuation of goods supplied by Herbalife International to its members under direct selling business model.
