Section 2(29C) Income Tax: Maximum Marginal Rate – Meaning
As per Section 2(29C) of Income Tax Act, 1961, unless the context otherwise requires, the term “maximum marginal rate” means the rate of income-tax (including surcharge on income-tax, if …
Tag: IT Definitions
Section 2(47) Income-tax: Transfer – Meaning
The definition of ‘Transfer’ in section 2(47) of the Income Tax Act of 1961 is broad and should be interpreted broadly. It should be noted that the term “transfer” …
Section 2(29A) of Income Tax: Definition of ‘Liable to Tax’
As per Section 2(29A) of the Income Tax Act, 1961, unless the context otherwise requires, the term “Liable to Tax”, in relation to a person and with reference to …
Section 2(12A) Income Tax: ‘Books or Books of Account’ – Meaning
As per Section 2(12A) of the Income Tax Act, 1961, unless the context otherwise requires, the term ‘Books or Books of Account’ has the following Meaning/ Definition: Section 2(12A) …
Section 2(47A) Income-tax: Virtual Digital Asset (VDA) – Meaning
As per Section 2(47A) of Income Tax Act, 1961, unless the context otherwise requires, the term “Virtual Digital Asset (VDA)” means,- (a) any information or code or number or …
Section 2(22) Income Tax: Dividend – Meaning
As per S. 2(22) of the Income Tax Act, 1961, unless the context otherwise requires, the term “dividend” includes- (a) any distribution by a company of accumulated profits, whether capitalised …