Taxation Law

COMPREHENSIVE LEGAL AND FINANCIAL ANALYSIS OF SECTION 80C DEDUCTIONS UNDER THE INDIAN INCOME TAX ACT, 1961

Vaidehi Sharma / May 21, 2025

Section 80C of the Income Tax Act, 1961, stands as a cornerstone in India’s tax-saving framework, offering individuals and Hindu Undivided Families (HUFs) a structured avenue to reduce their taxable income. By allowing deductions up to ₹1.5 lakh annually on specified investments and expenditures, Section 80C not only incentivizes savings but also promotes long-term financial planning among taxpayers.

SET-OFF AND CARRY FORWARD OF LOSSES UNDER INDIAN INCOME TAX LAW

Vaidehi Sharma / May 21, 2025

Introduction The concept of set-off and carry forward of losses is a critical feature of the Indian income tax framework,

Law Notes, Taxation Law

CLUBBING PROVISIONS RELATING TO SPOUSE AND MINOR CHILD UNDER THE INCOME-TAX ACT, 1961

Vaidehi Sharma / May 20, 2025

In the domain of Indian income-tax law, the concept of clubbing of income is a targeted anti-tax avoidance mechanism. Among its various applications, income arising from asset transfers to spouse and income accruing to minor children occupy a central position due to the frequency and ease with which such relationships can be used to redirect taxable income.

Law Notes, Taxation Law

CLUBBING OF INCOME UNDER THE INCOME TAX ACT, 1961: LEGAL FRAMEWORK, EXCEPTIONS, AND JUDICIAL INTERPRETATIONS

Vaidehi Sharma / May 20, 2025

The Indian Income Tax Act, 1961, follows a foundational principle that income is taxable in the hands of the person who earns it. However, tax law must not only be equitable but also enforce mechanisms that prevent its misuse. One such critical mechanism is the concept of clubbing of income, provided under Sections 60 to 64 of the Act.

Law Notes, Taxation Law

Interest on Securities under the Income-tax Act, 1961

Vaidehi Sharma / May 20, 2025

The term “interest on securities” is defined under Section 2(28B) of the Act and broadly covers interest on Central and State Government securities, as well as interest on debentures or similar instruments issued by local authorities, companies, or statutory corporations. The taxation of such income involves careful classification, procedural application, and anti-avoidance safeguards.

Law Notes, Taxation Law

TAXATION OF GIFTS UNDER SECTION 56(2)(X) OF THE INCOME TAX ACT, 1961: LEGAL ANALYSIS, CASE LAW, AND PRACTICAL FRAMEWORK

Vaidehi Sharma / May 20, 2025

Section 56(2)(x) of the Income Tax Act, 1961 serves as a pivotal provision in this context, aimed at taxing certain receipts without consideration or for inadequate consideration that are effectively in the nature of income. The provision brings within its ambit not only gifts of cash but also transfers of movable and immovable properties.

Law Notes, Taxation Law

COMPUTATION OF INCOME FROM OTHER SOURCES UNDER SECTION 56 OF THE INCOME TAX ACT, 1961: A DETAILED LEGAL ANALYSIS

Vaidehi Sharma / May 20, 2025

Introduction The Indian Income Tax Act, 1961 is designed to ensure that the entirety of a taxpayer’s income is properly

Law Notes, Taxation Law

COMPUTATION OF CAPITAL GAINS UNDER SECTION 48 OF THE INCOME TAX ACT, 1961: A DETAILED LEGAL ANALYSIS

Vaidehi Sharma / May 20, 2025

Section 45 of the Income Tax Act, 1961 provides the charging provision for capital gains, while Section 48 outlines the manner in which such gains are to be computed. The legislative scheme under these provisions serves to tax the economic appreciation in the value of capital assets upon their transfer.

Law Notes, Taxation Law

TRANSFER AND NON-TRANSFER TRANSACTIONS UNDER CAPITAL GAINS TAXATION: AN EXHAUSTIVE LEGAL COMMENTARY

Vaidehi Sharma / May 20, 2025

In the domain of Indian income tax law, the concept of ‘transfer’ under Section 2(47) of the Income Tax Act, 1961, is fundamental to the taxation of capital gains. Section 45, the charging provision for capital gains, hinges on the occurrence of a ‘transfer’ of a capital asset.

Taxation Law

CAPITAL GAINS TAXATION UNDER THE INDIAN INCOME TAX ACT, 1961: AN IN-DEPTH ANALYSIS

Vaidehi Sharma / May 20, 2025

Capital gains taxation represents a fundamental pillar of the Indian direct tax framework, reflecting both the government’s approach to revenue generation and its policy on wealth redistribution and investment incentives. Under the Income Tax Act, 1961, capital gains are defined as the profits or gains arising from the transfer of a capital asset.

COMPREHENSIVE LEGAL AND FINANCIAL ANALYSIS OF SECTION 80C DEDUCTIONS UNDER THE INDIAN INCOME TAX ACT, 1961

SET-OFF AND CARRY FORWARD OF LOSSES UNDER INDIAN INCOME TAX LAW

CLUBBING PROVISIONS RELATING TO SPOUSE AND MINOR CHILD UNDER THE INCOME-TAX ACT, 1961

CLUBBING OF INCOME UNDER THE INCOME TAX ACT, 1961: LEGAL FRAMEWORK, EXCEPTIONS, AND JUDICIAL INTERPRETATIONS

Interest on Securities under the Income-tax Act, 1961

TAXATION OF GIFTS UNDER SECTION 56(2)(X) OF THE INCOME TAX ACT, 1961: LEGAL ANALYSIS, CASE LAW, AND PRACTICAL FRAMEWORK

COMPUTATION OF INCOME FROM OTHER SOURCES UNDER SECTION 56 OF THE INCOME TAX ACT, 1961: A DETAILED LEGAL ANALYSIS

COMPUTATION OF CAPITAL GAINS UNDER SECTION 48 OF THE INCOME TAX ACT, 1961: A DETAILED LEGAL ANALYSIS

TRANSFER AND NON-TRANSFER TRANSACTIONS UNDER CAPITAL GAINS TAXATION: AN EXHAUSTIVE LEGAL COMMENTARY

CAPITAL GAINS TAXATION UNDER THE INDIAN INCOME TAX ACT, 1961: AN IN-DEPTH ANALYSIS

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