Prime Minister Modi announces new GST reforms to simplify the tax system, rationalise rates, and correct structural issues to benefit citizens and businesses.
The Income-Tax Bill, 2025, introduces a new provision that empowers the government to retroactively define treaty terms, raising concerns about legal uncertainty.
A guide to key tax compliance rules for AOPs, firms, and LLPs, covering topics such as member payments, tax rates, partner remuneration, and liability under the Income Tax Act.
ITAT Visakhapatnam ruled a temple trust cannot claim Section 12A exemption for years prior to its registration, unless assessment proceedings were already pending.
A summary of 118 legal precedents relevant to business and professional income, covering topics from depreciation and capital gains to deductible expenses and capital receipts.
A guide to available income tax deductions for AY 2025-26 under various default tax regimes (115BAA, 115BAB, 115BAC, 115BAD, 115BAE) for different taxpayer types.
An analysis of Section 115BBE of the Income Tax Act, which imposes a high flat tax on unexplained income, and its potential conflicts with constitutional rights related to equality, trade, and retrospective penalties.
A summary of key ITR-6 changes for the Assessment Year 2025-26, including new rules for capital gains, ESG disclosures, and presumptive taxation for shipping companies.
The ITAT Chandigarh directed the grant of a 12AA registration to a temple trust under state control, emphasizing that a trust deed is not essential when the state governs its administration.
ITAT Visakhapatnam ruled a temple trust without 12A registration cannot claim capital expenditure as a deduction, upholding a revisional order under Section 263.
