DGFT revised the MIP on Synthetic Knitted Fabrics (HS 60053600): The condition remains but is now exempt for fabrics in the range.
Summary of Income Tax Sections 111A, 112A, 115A-115AD, detailing flat tax rates on short and long-term capital gains, and specific income taxation for non-residents.
IRDAI issued a warning to Reliance Nippon Life for violating Section 45(1) by cancelling policies after the three-year limit. The insurer must pay interest on refunds and conduct an audit.
Summary of exclusive tax benefits for resident senior citizens (60+ years) and super senior citizens (80+ years), including enhanced deductions for health expenses (Section 80D/80DDB), a Rs. 50,000 deduction on interest income (Section 80TTB), exemption from advance tax, and simplified TDS/return filing procedures.
A summary of Tax Deducted at Source (TDS) rates under various sections of the Income-tax Act, 1961, covering payments to resident and non-resident individuals and companies.
Analysis of Indian income tax rates for AY 2025-26 & 2026-27. Covers the Old vs. Default 115BAC regimes, corporate tax concessions, Surcharge, HEC, and AMT/MAT rules.
CBDT’s new Compounding of Offence Guidelines (2024) simplify the process but maintain strict compliance rules. Learn about eligibility, non-refundable fees, mandatory payment of all outstanding tax dues, the structure of compounding charges for offences like TDS/TCS default or tax evasion (Sec. 276C), and rules for late applications.
This article simplifies important terms like assessee, assessment year, advance tax, and capital asset—essential for anyone learning how India’s tax system works.
Explaining the criteria for Resident (ROR/RNOR) and Non-Resident status for Individuals, HUFs, and Companies under the Income-tax Act, including special rules for NRIs/PIOs.
Summary of statutory deadlines for issuing income tax notices (Sec 143, 147) and completing assessments, reassessments, and appeal effect orders.
