Author: indiafreenotes

If an assessee lets on Hire machinery, plant or furniture and also building & letting of building is inseparable from…

Subsequent to the abolishment of Dividend Distribution Tax (DDT) from the statute, Finance Act, 2020 has made the dividend income…

Section 45(2) of Income Tax Act deals with the cases where a capital asset is converted into stock in trade.…

Cost of Acquisition (COA) means any capital expense at the time of acquiring capital asset under transfer, i.e., to include…

As per section 56(1), income of every kind, which is not to be excluded from the total income under this…

Building or Land Appurtenant thereto. The scope of this head of income is limited to the income from buildings or…

STCG ( Short-term capital asset ) An asset held for a period of 36 months or less is a short-term…

The receipts/incomes which are chargeable to tax under the head Income from Other Sources include the following: (i) Interest on…

Capital Expenditure Capital Expenditure is that expenditure which is incurred For acquiring or bringing into existence an asset or advantage…

Rent, rates, taxes, repairs and insurance for owned buildings as well as buildings taken on rent (Section 30) It is…