Showing posts from 2020

Introduction to Income Tax Act 1961

In India, Income tax is a tax you pay to the government based on your income. The government uses this tax money for vario…

Concept of Hindu Undivided Family (HUF)

Concept of HUF The term 'Hindu Undivided Family' has not been defined under the Income Tax Act. It is defined under t…

Diffrence between Previous year & Assessment years

Assessment Year [Sec. - 2 (9)] Meaning and Definition  Assessment year refers to a year in which financial year is asse…

Definition and type of Persons

Person includes Individual, Hindu Undivided Family (HUF), a Company, a Firm Associations of Person Body of Individual Loc…

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