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“What You Need to Know About Tax on Property Gifts and Inadequate Transactions”

The taxation of property received without consideration or for inadequate consideration is governed by Section 56(2) of the Income Tax Act, 1961. This provision ensures that such transfers, which may otherwise escape taxation, are brought into the tax net

What are the complete basic conditions for taxing capital gains under Section 45 of the Income Tax Act?

Capital gains are a vital component of the Indian Income Tax framework. They arise from the transfer of capital assets, and their taxation is governed primarily by Section 45 of the Income Tax Act, 1961. In this blog, we