This blog explores the chargeability of Income from Other Sources (IFOS) under Section 56, its scope, types of income covered, taxability, exemptions, and strategic tax planning measures for taxpayers.
This blog explores critical tax implications impacting gig workers in India, offering insights into relevant legal provisions, potential challenges and practical recommendations for effective tax management.
ITAT Chennai held that provisions of section 69A of the Income Tax Act could not be invoked when cash is sourced out of recorded sales. Accordingly, appeal allowed and addition u/s. 69A is liable to be deleted.
Are you aware of financial risks your family might encounter without you? Life insurance is not just a document but a promise to offer a protective shield to your loved ones when you pass away.
Despite Section 115BAC(1A) introducing slab rates for AOPs, CPC and tax utilities continue applying outdated rates, causing conflicting tax demands and confusion.
Rajasthan High Court quashes IT notice against Prateek Bulls and Bears Pvt Ltd due to lack of evidence linking bank account to the assessee.
Understand why independent directors are prohibited from receiving ESOPs under Indian law, while profit-based commissions are permitted with shareholder approval.
ITAT Hyderabad rejects Papaiah Pulipati’s appeal due to an inordinate 10+ year delay, citing lack of justification and Supreme Court precedent on condonation of delay.
Learn the key differences between Previous Year and Assessment Year in taxation. Explore their definitions, importance, and role in income tax compliance.
Details of the Lok Sabha Select Committee’s sittings on March 6-7, 2025, to examine the Income-Tax Bill, 2025, with oral evidence sessions by ICAI, EY, FICCI, and CII.
