Understanding Key Provisions of India’s Income-Tax Act, 1961

Income-Tax Act, 1961

The Indian Income-Tax law contained in the Income-Tax Act, 1961 has the twin objectives of increased revenue generation and correct application of tax laws. Section 2(15) of the Income-Tax Act,1961 defines charitable purpose as ” relief of the poor, education, medical relief and advancement of object of general public utility” which includes trade, commerce or … Read more