If any liability towards unpaid expenditure is incurred by a person in a year and paid by such person in any subsequent year, ...

This paper discusses the three schools of thought regarding ‘income’ in such cases, the first one that says there must be entry of cost price in the revenue column thereby leading to cancellation in ...

India's Chief Economic Adviser, V Anantha Nageswaran, cautioned against a "billionaire tax," arguing it could deter investment. He emphasized equality of access and opportunity over outcome ...

Tax Regimes for Senior Citizens and Exemption Limits Senior citizens can choose between two tax regimes i.e the old or the new tax regime. In the old tax regime, it allows deductions under Chapter 6A.