When there is a profit from the sale or transfer of a capital asset such as building, car, jewellery, shares, etc. it is known as capital gain, which is taxable under the Income Tax Act, as it is regarded as the income of the previous year in which the transfer occurs. It can be short-term capital gain or long-term capital gain. The short-term capital gain refers to the profit earned by an individual on account of the transfer of the short-term capital asset. On the other extreme, when a … [Read more...]
Difference Between Scholarship and Fellowship
There are many schemes run by the government to further the education of the needy and meritorious students, based on specific criteria which should be fulfilled by the student, in order to avail it. Scholarship and fellowship are two such schemes which are quite commonly misconstrued in this regard. The scholarship is defined as a money granted by the government or any other organization to the students who fit the criteria set by the granting authority. Conversely, the fellowship is the … [Read more...]
Difference Between Distributive Negotiation and Integrative Negotiation
Negotiation is described as the two-way communication through which one can get what he/she want from others. It is a process in which two parties seek to resolve their conflicts, by modifying their demands, to reach a mutually acceptable solution. The two common types of negotiation are distributive negotiation and integrative negotiation. Distributive Negotiation is one in which one party wins, and other loses. On the other extreme, integrative negotiation can be described as the … [Read more...]
Difference Between Fundamental Rights and Human Rights
In general, 'rights' refers to the moral or legal entitlement over something. As per law, rights are considered as the reasonable claim of the individuals which are accepted by the society and approved by statute. It can be fundamental rights or human rights. The rights which are fundamental to the life of the citizens of a country are known as fundamental rights. On the other hand, human rights imply the rights that belong to all the human beings irrespective of their nationality, race, … [Read more...]
Difference Between Nominee and Legal Heir
Every person has to make the decision once in his/her life, as to who is going to be the ultimate beneficiary of the property, after his/her demise. It is important to determine whose hands will get the property legally, i.e. legal heir or nominee. The two can be the same person, but not in all the cases. A nominee is someone, who is nominated by the deceased person when he/she is alive, to take care of the assets and investments after his/her demise. On the contrary, the legal heir is the … [Read more...]
Difference Between Summon and Warrant
Summon is a legal notice, issued both in case of civil and criminal proceeding, in which a court orders an individual either to appear or to produce a document before the court, at a stipulated time and place. On the other extreme, a warrant is described as a legal document issued by a judge or magistrate, which empowers a police officer to make an arrest, search or seize premises or undertake any action, concerning the administration of justice. In short, the two legal documents serve the … [Read more...]
Difference Between Hearing and Trial
On the happening of an incidence, prohibited or punishable by law, such as a civil disagreement between parties to the dispute or criminal activity, the case goes to trial in the law court. The Criminal Code Procedure lists out the rules for arresting, investing and trial of criminal before the courts. In a court trial, the parties to the dispute come together, to present the facts and evidence before the court of law. As per criminal law, all the offences need to be investigated, inquired … [Read more...]
Difference Between Tribunal and Court
The judiciary wing of the constitution performs a range of functions like dispute resolution, judicial review, enforcing fundamental rights and upholding law. It regulates the common law system of the country. In India, there are various levels of the judiciary which include the Supreme Court, the High Courts and the subordinate courts. The subordinate courts include district courts and tribunals. The first and foremost difference between court and tribunal is that tribunals are subordinate to … [Read more...]
Difference Between Magistrate and Judge
Judiciary is the organ of the constitution that tends to protect the interest of the citizens. It is the final authority that interprets legal cases and constitutional arrangements. It plays an important role in the enforcement of law and adjudicating upon disputes between citizens, states and other parties. The courts maintain the rule of law in the nation to safeguard the rights. The judges head Courts, i.e. Supreme Court, High Court and other subordinate courts. Judges are not exactly same … [Read more...]
Difference Between Cognizable and Non-Cognizable Offence
Offence implies an illegal act or a crime. In finer terms, offence entails any act, which is punishable in nature and against which a complaint is registered, with the appropriate authority, i.e. police or magistrate. The offence can be classified as a cognizable offence and non-cognizable offence, wherein the cognizable offence means the one in which the police can arrest the accused without a warrant. On the other hand, the non-cognizable offence can be described as the offence in which the … [Read more...]
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