Tag: IT Definitions
For better understanding of the concept of Previous Year & Financial Year vis-a-vis Assessment Year in the case of a layman, the terms ‘Assessment Year’ and ‘Previous Year’ have …
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 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 …
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) …
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 …
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 …