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In case of individuals, income tax is applicable on the slab system on total income. As the income increases, the applicable tax rate increases. Some taxpayers in higher income slab may tend to divert some portion of their income to minimize tax burden. Therefore to prevent such tax avoidance, clubbing of income provisions have been incorporated.

So, if you are planning to transfer assets or income to another person in order to avoid tax implications, then such transfers could also be taxable in your hands.

Even genuine gifts to friends and family can also attract clubbing provisions under Income Tax Act. So, it is important to have insight knowledge of clubbing provisions to avoid any tax implications or penalties.

W.e.f.  13th August 2020, the e-assessment scheme of 2019 is amended to be known as “Facelesss Assessment Scheme”. 

Goods transport agency means any person who provides service in respect of transportation of goods by road and issues consignment note, by whatever name called.