Finance Act 2025 proposes presumptive taxation (Section 44BBD) for non-residents supporting India’s electronics manufacturing.
Learn about India’s TCS on luxury goods. Effective April 2025, 1% TCS applies to sales over ₹10 lakh for watches, art, yachts, and more. Get details on rules and compliance.
Why the conflict over depreciation of goodwill: To understand this from a layman’s perspective – any deduction by way of depreciation leads to reduction in profits from Business or Profession and thus Total income. What does that lead to -For the Government – reduced tax. -For the Buyer – reduced cost of acquiring an asset […]
BARE ACT: Payment of certain amounts in cash. 194N. Every person, being,— i) a banking company to which the Banking Regulation Act, 1949 applies (including any bank or banking institution referred to in section 51 of that Act); ii) a co-operative society engaged in carrying on the business of banking; or iii) a post office, who […]
