Definition of ‘Infrastructure Capital Company’ and ‘Infrastructure Capital Fund’ under Sections 2(26A) & S.2(26B) of the Income Tax Act, 1961, is as under: Definition of ‘Infrastructure Capital Company’: Section …
As per S.2(24) of the Income Tax Act, 1961, unless the context otherwise requires, the term “income” includes- (i) profits and gains; (ii) dividend; (iia) voluntary contributions received by …
Meaning of the terms ‘Partner’, ‘Partnership’ & ‘Firm’ under Section 2(23) of the Income Tax Act: a) Definition of ‘Firm’ – Section 2(23)(i) Income Tax As per Section 2(23)(i) …
As per Section 2(22B) of the Income Tax Act, 1961, unless the context otherwise requires, the term “fair market value”, in relation to a capital asset, means- (i) the …
Definition of the terms ‘Director, Manager, Managing Agent & Principal Officer’ under Sections 2(20) and 2(35) of the Income Tax Act: a) Definition of ‘Director/ Manager/ Managing Agent’: Section …
We live in a corporate era where restructuring through mergers and demergers is quite common. However, it is critical to understand the Income Tax implications of such strategic restructuring …
As per S.2(15) of the Income Tax Act, 1961, unless the context otherwise requires, the term “charitable purpose” includes relief of the poor, education, yoga, medical relief, preservation of environment …
As per S. 2(14) of the Income Tax Act, 1961, unless the context otherwise requires, the term ‘capital asset’ means: (a) property of any kind held by an assessee, …
As per Section 2(13A) of the Income Tax Act, 1961, unless the context otherwise requires, the term ‘business trust’ means a trust registered as; (i) an Infrastructure Investment Trust …
As per S. 2(7) of the Income Tax Act, 1961, unless the context otherwise requires, the term “assessee” means a person by whom any tax or any other sum …