Definition of Mutation in Property Tax Records Mutation refers to the process of updating ownership details in land or property tax records. It officially records the transfer of title from one person to another. Mutation is necessary after sale, inheritance, gift,...
Introduction Property tax has a long-standing history in India and has evolved as one of the most important sources of revenue for local governing bodies. The concept dates back to ancient times when rulers levied taxes on land and agricultural produce to maintain...
Meaning and objective of tax planning Tax planning is the legal process of organizing business finances to reduce tax liability. It ensures companies utilize available deductions, exemptions, and incentives without violating laws. Helps reduce taxable income through...
In a major push for administrative efficiency and citizen-centric governance, the Registrar of Societies has announced a revamped timeline for addressing complaints filed by housing societies, cooperative associations, and charitable trusts. The move aims to reduce...
Introduction Associations, whether formed for residential management, cultural promotion, professional interest, or welfare activities, are subject to legal and organizational reporting responsibilities. These responsibilities ensure accountability, transparency, and...
Introduction In a partnership firm, each partner’s share typically refers to their ownership interest in the business, which includes their proportion of capital contribution, entitlement to profits, and obligation to bear losses. The partner’s share is initially...