1961 Archives – Income Tax News, Judgments, Act, Analysis, Tax Planning, Advisory, E filing of returns, CA Students

are insurance policies taxable

Life Insurance Policy Payouts – Are they Taxable or Not?

August 3, 2019 Diksha Garg 1961, Income tax act, Keyman insurance policy, life insurance policies, PAN, TDS

The basic idea about life insurance policies is that they are tax-free. But this might be subject to conditions and/or

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Tax Implications on Conversion of Partnership firm in Private Limited Company

Tax Implications on Conversion of Partnership firm in Private Limited Company

May 1, 2017 Rebecca Ghomes 195, 1961, provisions of Part IX of the Companies Act, Section 2(47) of the Income Tax Act, Tax implication in case if a partnership firm converts into a limited company, Tax on the profit arising from Capital Gain, Under Section 45(4)

A partnership firm and a limited company are two different entities, in terms of legal liability. The company holds its independent

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Do’s and don’ts of a Survey under the Income Tax Act, 1961

Do’s and don’ts of a Survey under the Income Tax Act, 1961

September 2, 2016September 6, 2016 Manager 1961, Do’s and don’ts of a Survey under the Income Tax Act

The term “Survey” has not been defined in the Income Tax Act. However as per Concise Oxford Dictionary, “Survey” means

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APPEALS PROCEEDINGS UNDER INCOME TAX ACT, 1961

APPEALS PROCEEDINGS UNDER INCOME TAX ACT, 1961

August 30, 2016September 12, 2016 Manager 1961, APPEALS PROCEEDINGS UNDER INCOME TAX ACT

The term appeal has nowhere been defined under the Income Tax Act. However as per Mozley and Whiteley’s Law Dictionary

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