Tag: IT Definitions

Learn the difference between domestic and foreign companies under the Income Tax Act, 1961. Understand definitions, tax rates, and compliance rules for Indian and foreign entities. Updated with Finance …

The proposed reforms in Section 2 of the Income Tax Bill, 2025 aim to declutter the complex language of the existing Income-tax Act, 1961.

Meaning/ Definition of various terms as per Section 2 of the Income Tax act, 1961: Definitions under Income Tax Act 1961 Section 2(1): Advance Tax Section 2(1A): Agricultural Income …

Definitions of various ranks of Income Tax Officials, like Income Tax Officers/ Commissioners/ Directors, including of the governing body (CBDT) and Appellate Authorities, as per Section 2 of Income …

As per Section 2(2) of the Income Tax Act, 1961, unless the context otherwise requires, the term “Annual Value” has the following Meaning/ Definition: Section 2(2) of the Income Tax …

As per Section 2(1) of the Income Tax Act, 1961, unless the context otherwise requires, the term “Advance Tax” has the following Meaning/ Definition: Section 2(1) of the Income Tax …

As per Section 2(1B) of the Income Tax Act, 1961, unless the context otherwise requires, the term “amalgamation”, in relation to companies, means the merger of one or more companies …

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 …

Slump sale basically means transfer of one or more undertakings as a result of the sale for a lump sum consideration, without values being assigned to the individual assets …

Nowadays, most of the business are run using the finance for different purposes and from different sources. Such financing cost has major component in the form of ‘interest’, which …