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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...
Budget 2023 amends section 9(1)(viii) of Income Tax Act to extend deeming provision to sum of money exceeding fifty thousand rupees, received by a not ordinarily resident, without consideration from a person resident in India.
Section 87A rebate increased from the current Rs. 5 Lakhs to Rs. 7 Lakhs in the New tax regime. Currently, those with income up to 5 lakhs do not pay any income tax in both old and new tax regimes. The budget proposes to increase the rebate limit to 7 lakhs in the new tax regime. Thus, persons in the new tax regime, with income up to 7 lakhs will not have to pay any tax.
BUdget 2023: Article explains consequences & implications of New Income Tax slabs and what are its direct effect on a common man.
Understand the importance of tax laws & regulations to reduce your tax bill & avoid legal trouble. Get informed on deduction & credits to help manage your finances & investments.
Understand the changes in the Direct Tax & Indirect Tax proposals of Budget 2023 to make the best financial decision for yourself.
Understand the Union Budget 2023 tax exemption on life insurance policies & payments to MSEs. Learn about Section 10 (10D) income tax exemption on premiums & more in this article.
Budget 2023 introduces Concept of inventory valuations by Cost Accountants in specific cases, as granted by Section 142(2A) of income Tax Act.
Discover the dark side of the Budget 2023 Trump Card- the new income tax regime. Find out the reduced tax rates & increased exemptions unveiled by FM Nirmala Sitharaman & how it differs from the old income tax regime.
Discover how corporate takeover laws decrease tax evasion & what mechanisms are most likely at work in developing countries with this unified perspective. Best Practices of Corporate Governance In Developing World: A Unified Perspective.
Under section 44AB of the Act, every person carrying on business is required to get his accounts audited, if his total sales, turnover or gross receipts, in business exceeds one crore rupees in any previous year. The limit is raised to ten crore rupees where at least 95% of receipts/payments are in non-cash mode.
