Income Tax ⁽³²⁾

Capital Gains Tax on Redevelopment Definitions Capital Asset as per the Income Tax Act, 1961 Section 2(14) — a) property of any kind held by an assessee, whether or not connected with his business or profession. Section 2(47) "transfer", in relation to a capital asset,…

What is Annual Information Statement (AIS)? The Annual Information Statement (AIS) is a recently introduced system by the Income Tax Department. It serves as an information repository for taxpayers, providing insights into their financial transactions throughout a given year. This comprehensive statement encompasses various financial…

From 1st July 2022, section 194S requires a person, who is responsible for paying to any resident any sum by way of consideration for transfer of a virtual digital asset (VDA) / Crypto / Crypto Currency / USDT / etc, to deduct an amount equal…