In India, capital gains tax is governed by the Income Tax Act, 1961. The taxation of capital gains is specified in Sections 45 to 55 of the Act. Here’s an overview of the key provisions related to capital gains: Definition of Capital Asset (Section 2(14)): The term “capital asset” is broadly defined to include property… Continue reading Capital gains
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Minimum Alternate Tax (MAT) and Alternate Minimum Tax (AMT)
Minimum Alternate Tax (MAT) & Alternate Minimum Tax (AMT) is a concept of taxation that is appropriate for organizations and individuals paying tax. The standards of MAT are appropriate for organizations and the standards of AMT are relevant for individuals. Mat Vs Amt Minimum Alternate Tax And Alternative Minimum Tax Objective of Levying MAT Certain organizations… Continue reading Minimum Alternate Tax (MAT) and Alternate Minimum Tax (AMT)