Types Of Intellectual Property Rights In India

Intellectual property is a special category of intangible property created by human intelligence in art, science, literature, and trade. Because Intellectual property is a unique creation of the mind, it is intangible. Therefore, intellectual property rights are privileges given to the creator to reveal their creation in the public domain. However, this property does not apply to material things such as books, computers, and mobiles. With different types of intellectual property, the creator has the right to use, sell, distribute, offer, or restrict ot...

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Section 89 Of Income Tax Act: Providing Relief To Tax Payers

An employee may receive salary arrears for any prior year or years in the current year as a consequence of pay modification. Such arrears may result in the income tax slab rate changing to a higher tax slab. The income tax is calculated on the assessee's total earnings or receipts from the previous year. An 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 the current year because the assessee's tax slab rate changes to a higher...

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Tax Law