Section 89 of Income Tax Act: Providing Relief to Tax Payers

There are instances where an employee may get salary arrears for any prior year or years in the current year as a consequence of pay modification. And because one's income tax slab rate changed to a higher tax slab, the tax due for the current year could be higher. The Income Tax is on the assessee's total earnings or receipts from the previous year. There are instances where the employee receives payment for past dues as salary arrears in the current year. The income tax amount the employee would be required to pay in this situation would be higher in...

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Tax Law

Types of Intellectual Property Rights in India

Intellectual property is a special category created by human intelligence in art, science, literature, trade etc. As Intellectual property is a unique creation of the mind, it is intangible. So, intellectual property rights are the privileges given to the creator to reveal their creation in the public domain. But it does not apply to material things like books, computers, mobiles, etc. With different types of intellectual property creator has the right to use, sell, distribute, offer, or restrict others from using it. Intellectual property law Intell...

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