Section 2(37A): Income Tax Rates in Force – Meaning
As per Section 2(37A) of Income Tax Act, 1961, unless the context otherwise requires, the term “rate or rates in force” or “rates in force”, in relation to an …
Tag: IT Definitions
Section 2(20)/ 2(35) Income Tax: Director, Manager, Managing Agent & Principal Officer – Meaning
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 …
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 …