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...
Finance : The Supreme Court has allowed taxpayers to challenge retrospective amendments validating JAO reassessment actions. It stayed ongoi...
Income Tax : The issue arose from taxing buybacks as dividends, causing higher tax burden and unusable capital losses. The reform restores capi...
Income Tax : The Supreme Court has admitted a case to resolve conflicting interpretations of due dates for PF/ESI contributions. The ruling wil...
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Excise Duty : The government has withdrawn an earlier central excise exemption notification with effect from 2 February 2026.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...
Government has proposed to add a new clause to section 43B which will allow deductions of payment to MSME only if payment is made within timeline specified in MSMED Act.
Angel tax is a prime example of how even well-intentioned actions can backfire. The difference between the issue price of unlisted securities and their fair market value (FMV), which must be calculated by a merchant banker using either the book value technique or discounted cash flow method, is taxed under Section 56(2)(viib) of the Tax […]
Composition Scheme now allowed to person making supply of GOODS through ecommerce operators who is required to collect TCS u/s 52.
आम बजट में जिस तरह से नए कर ढ़ांचे की पेशकश की गयी है उससे तो यही संकेत मिलता है कि सरकार आने वाले वर्षों में पुरानी व्यवस्था को कहीं स्थगित ही न कर दे हालांकि अभी तक तो हमें पुरानी व्यवस्था को अपनाने का विकल्प दे रखा है। नये कर ढांचे में हम जैसों […]
Stay up to date with the 2021 Budget Amendments pertaining to Trusts or Institutions to ensure compliance with Section 10(46) of the IT Act, 1961. Get the information here
Digital public infrastructure & budgeting for farmers: what Budget 2023 – Reaching The Last Mile – Long way to go means. Learn more!
Section 54- Deduction on the capital gains arising from transfer of long term capital asset i.e. Residential House if an assessee with in period of one year or two years after the date on which transfer took place purchased any residential property or with period of three years after that date constructed any residential property in India Irrespective of any threshold limit.
TDS Rate Chart for FY 2023-2024 (AY 2024-2025) – Get complete details on Budget 2023 Amendments, Nature of Payment & Threshold Limits. Tax Deduction at Source (TDS) now at 3 crore limit for co-operative societies.
Taxpayers can learn more about Amendment in Section 44AD & 44ADA in this post. Get info on gross turnover, minimum taxable sum, digital transactions & more
Section 43B of Income Tax Act provides that deduction for certain sums specified in its clauses (a) to (g) is allowable only on actual payment. However, the Proviso to this section allows deduction on accrual basis if the specified sum is paid by due date of furnishing of the return of income.
