Income Tax : Budget 2026 has extended the due dates for ITR-3, ITR-4, and revised returns, offering taxpayers greater flexibility. Understandin...
Income Tax : The article explains how the Finance Act, 2026 replaced the deemed dividend framework with capital gains taxation. The change allo...
Income Tax : Taxpayers now get three extra months to correct mistakes in originally filed income tax returns. The revised return mechanism rema...
Finance : Secondary SGB buyers must now pay 12.5% LTCG tax, unlike primary holders. The change reshapes returns and investment strategies in...
Income Tax : Establishes that higher tax burdens on promoters under the new regime require companies to reassess payout strategies. The takeawa...
Income Tax : The amendments focus on reassessment timelines, electronic communication, and procedural clarity. The changes aim to reduce litiga...
Income Tax : The Government introduced reforms to simplify tax dispute resolution, including broader immunity provisions and expanded scope for...
Income Tax : A focused session breaks down recent Budget amendments affecting NRI taxation. It highlights how changes impact income, investment...
CA, CS, CMA : Budget 2026 prioritises easing compliance, reducing penalties, and cutting litigation rather than raising tax rates. The reforms a...
Custom Duty : New baggage rules and processing regulations are notified, replacing earlier frameworks and aligning customs procedures for passen...
Goods and Services Tax : Discover the key amendments in the Finance (No. 2) Bill, 2024, affecting CGST, IGST, UTGST, and Cess Act, including tax exemptions...
Income Tax : A petition has been filed in the Madras High Court challenging the section 271J of the Income Tax Act inserted vide Finance Act 2...
Income Tax : U/s 250(4), the CIT (A) has the power to direct enquiry and call for evidence from the assessee. Under Rule 46A, the assessee has ...
Income Tax : CBDT updated DIN rules to align with new provisions introduced under the Finance Act, 2026. The circular mandates DIN for most tax...
Income Tax : The Finance Act, 2026 prescribes income-tax rates, surcharge, and cess for the assessment year 2026–27. It establishes the legal...
Excise Duty : The government has withdrawn an earlier central excise exemption notification with effect from 2 February 2026. The rescission is ...
Excise Duty : The government has extended key excise provisions and introduced a specific duty structure for CNG blended with biogas. The key ta...
Excise Duty : The government has reduced the effective National Calamity Contingent Duty on specified tobacco products. The key takeaway is a ca...
Tax exemption to charitable organisations proposed in Finance Bill 2023 – Suggestions. Government provides incentive for public welfare in form of tax exemption. Benefits of the Tax Act Section 11 for charitable organisations.
Ministry of Finance 1. ANTI-AVOIDANCE RELATED TO INTEREST PAID ON BORROWED CAPITAL Budget 2023 proposes that cost of acquisition or improvement of house property shall not include the amount of interest on borrowed capital, which has been claimed earlier as deduction. While interest paid on borrowed capital for acquiring or improving a property can, subject […]
Navigating through different income brackets and the best-suited tax regime for them post Union Budget 2023.
Boost Indias EV Manufacturing with the 2023 Budget – Reduce carbon emissions by 45% with the FAME-II policy. EV manufacturing is supercharged thanks to a 80% increase in budget allocation.
Tax Impact of Payment to Micro & Small Enterprise under Budget 2023. Learn more about the proposed amendment in Section 43B of Income Tax Act. Get insights into MSMED Act.
The only way to determine old vs new tax regime- which is better is to enter income under both regimes to determine the actual tax payable.
Its tax season — get up to speed with Webinar on Changes in ITR For AY 23-24, Burning Issues in Income Tax, International Tax, & Interplay of Decisions in GST
Amendment of Section 43B to boost MSME sector growth & timely payments. Govt. of India passed Budget 2023 to help MSMEs. Find out more.
It is proposed that application out of corpus or a loan before April 1, 2021 shall not to be allowed as application for charitable or religious purposes even when such amount is put back into corpus or the loan is repaid. This is in order to avoid double tax deduction.
Section 115BAC was introduced in Finance act 2020 as New Tax Regime whereby new tax rates were introduced for Individuals and HUF as an option to existing tax rates applicable.
