February 18, 2025

CKYC India

CKYC India

Central Know Your Customer (CKYC) is a centralized KYC repository introduced by the Government of India to simplify the KYC process across financial institutions. It eliminates the need to submit KYC documents multiple times for different financial services. Background of CKYC Section 73 of the Prevention of Money Laundering Act, 2002, gives the central government […]

Section 34AD – Wealth-Tax Act, 1957

Removal from register of names of valuers and restoration  (1) The 60[Chief Commissioner or Director General] may remove the name of any person from the register of valuers where 61[he] is satisfied, after giving that person a reasonable opportunity of being heard and after such further inquiry, if any, as 61[he] thinks fit to make,— (i)   that

Haryana Property Registration

Haryana Property Registration

Property registration in Haryana is mandatory to ensure the legal ownership of the asset. Although the process entails accumulating relevant documents, paying charges and visiting the sub-registrar’s office,All transactions that involve the sale of immovable property should be registered in India to ensure the transfer of clean title to the owner. The registration of a

Section 93 of Income Tax Act, 2025 : Deductions.

(1) The income chargeable under the head “Income from other sources” shall be computed after making the following deductions:—(a) for dividends [excluding those referred to in section 2(40)(f) or interest on securities, any reasonable sum paid as commission orremuneration to a banker or any other person for the purpose of realising such dividend or interest

Section 94 of Income Tax Act, 2025 : Amounts not deductible.

(1) Irrespective of anything contained in section 93, the following amounts shall not be deductible in computing the income of any assessee chargeable under the head “Income from other sources”:—(a) any personal expenses of the assessee; or(b) any interest chargeable under this Act, payable outside India, on which tax has not been paid or deducted

Section 98 of Income Tax Act, 2025 : “Transfer” and “revocable transfer” defined.

For the purposes of sections 96 and 97, and this section,—(a) “transfer” includes any settlement, trust, covenant, agreement or arrangement;(b) a transfer shall be considered to be revocable, if––(i) it contains any provision for the direct or indirect re-transfer of the whole or any part of the income or assets to the transferor; or(ii) it,