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Income Tax : Tax Audit Form 26 now requires reporting of both quantity and value of principal stock, purchases, and sales. The key takeaway is ...
Income Tax : This article examines whether educational institutions with receipts up to Rs. 5 crore must obtain RNPO registration to claim exem...
Income Tax : This article explains why ELSS redemption gains are taxable despite offering tax deductions at the time of investment. It highligh...
Income Tax : Learn how the increased Rs. 1.25 lakh exemption and 12.5% LTCG tax rate apply to listed shares and equity mutual funds. The guide ...
Income Tax : The Income Tax Department explains how the e-Verification Scheme addresses mismatches between reported financial transactions and ...
Income Tax : Net direct tax collections for FY 2026-27 grew by 14.64% as of June 17, 2026, driven by higher corporate and non-corporate tax rec...
Income Tax : The CBI apprehended an Income Tax Office Superintendent in Odisha after he was allegedly caught accepting a bribe for deleting a d...
Income Tax : The Income Tax Appellate Tribunal has proposed a priority disposal mechanism for appeals filed up to and including 2022 in respons...
Income Tax : A representation has urged CBDT to merge TDS return codes 1023 and 1024, arguing that both apply to the same contract payments wit...
Income Tax : Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation ...
Income Tax : ITAT Delhi held that cash deposits arising from recorded and accepted cash sales cannot be added as unexplained cash credits under...
Income Tax : ITAT Mumbai held that Compulsorily Convertible Debentures cannot be equated with call options and that no option premium arose fro...
Income Tax : ITAT Bangalore held that RBI's classification of compulsorily convertible debentures as equity for FDI purposes cannot determine t...
Income Tax : ITAT Delhi held that no disallowance under Rule 8D(2)(ii) could be made where investments yielding exempt income were financed fro...
Income Tax : ITAT Mumbai held that Compulsorily Convertible Debentures retain their character as debt until conversion into equity. It deleted ...
Income Tax : The CBDT has identified specific categories of taxpayers whose returns will be compulsorily selected for complete scrutiny during ...
Income Tax : The Ordinance exempts interest income and capital gains arising from Government securities for Foreign Institutional Investors and...
Income Tax : The Central Government has specified infrastructure sub-sectors from the Updated Harmonised Master List as eligible businesses und...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, enabling eligible donations to qualify for tax benef...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, allowing eligible donations to qualify for tax benef...
A General Discussion of the Taxation of Capital Gains for the purposes of Non Residents Assessee when they transfer the debt Securities specially bonds and Debentures held by them. This discussion is presented using FAQs Technique when Listed Bonds and Debentures of Indian Company /Government Bonds is sold /Transferred , which was originally subscribed in […]
CA Susheel Kumar Gupta Section 30 to 36 lists out certain deductions, which are allowed while computing the profit and gains from business or profession. Deductions under these sections are allowed subject to certain conditions mentioned in those section. Further, these sections do not list down all types of expenses. For these expenses, deduction can […]
Employees Stock Option Plan (ESOP) has gained enough popularity after young start ups struggle to attract suitable human capital. This becomes more relevant as the start ups are not able to offer them hefty pay packages. In such situations ESOPs have been proved to be useful tool for employee retention by giving them a sense of ownership.
A New Era of Taxation of Charitable/Religious Trusts-Facing the challenges ahead amid a Paradigm Shift in the Regulatory Scheme clothed with some additional compliance burden for the Financial Year 2020-21 This year the Taxman has come with a substantial overhaul having regard to the taxation of the Trusts, Societies, NGOs etc. i.e. Charitable Trusts including educational, […]
In the new budget for the fiscal year 2020-21, Finance Minister Nirmala Sitharaman introduced the new income tax rate for tax-payers in India. The Finance minister said in her budget speech that the Current Income Tax Act is full of various exemptions and deductions that make compliance complicated and a burdensome process for the taxpayers.
The approach of the government towards the NGO sector used to be lenient but today the position is changing as the government is tightening the laws and regulatory controls over NGOs every other day. It has to be appreciated that NGOs play an important role in the society and the income of these institutions is […]
When it comes to Income tax, Indians seem a lot confused. Not everyone is aware about all the aspects of Income tax and that leads to myths being built around the whole concept of income tax. In this blog post we will see what are the most common myths related to income tax and we […]
You can keep and generate 2000 parties Form 15G by using this utility with in seconds, Simple to generate as and when require Form 15G UIN (Unique Identification Number) will generate automatically as per the prescribed format
SMEs face a number of problems on a day-to-day basis. The internal and external issues that keep arising hinder the working of the organization which ultimately has an adverse effect on the financial aspect of the business. In the previous blog posts, we have explored a number of topics pertaining to SMEs – MSME license, […]
During the last two days, there have been some reports in media about various protocols etc of prospective travellers by trains. They have also been mentioning about number of trains starting from a given date.
