Income Tax : The article argues that the ITAT's interpretation of Sections 2(19AA) and 2(41A) overlooked the anti-surplusage canon, creating su...
CA, CS, CMA : A comprehensive guide covering 175 legal compliances for July 2026 under FEMA, Income Tax, GST, SEBI, Companies Act, Labour Laws, ...
Income Tax : The Income-tax Act does not prescribe a single definition of "relative" for all purposes. Different provisions such as Sections 13...
Income Tax : Understand when 1% TDS applies on purchase of immovable property under Section 194-IA. Learn the Rs. 50 lakh threshold, compliance...
Income Tax : This guide explains when NRIs should use Form 128 and when payers should use Form 129 to reduce or eliminate excess TDS. It also c...
Income Tax : The issue was complexity in the existing tax law. It was clarified that the new Act simplifies structure by reducing sections and ...
Income Tax : This webinar breaks down the major structural and conceptual changes introduced in the new Income Tax Act, 2025. It helps professi...
Income Tax : The government informed Parliament that taxpayer-specific details of income tax searches cannot be disclosed due to confidentialit...
Income Tax : The Government clarified that the new income tax search provision does not expand powers or permit AI-based digital surveillance, ...
Income Tax : The representation highlights large-scale pendency and administrative bottlenecks under Sections 12AB and 80G, urging immediate re...
Income Tax : Madras HC set aside cognizance under the Income-tax Act, holding Section 223(1) BNSS mandates hearing the accused before cognizanc...
Income Tax : ITAT Mumbai quashed reassessment after finding no Section 143(2) notice and that the AO issued a final order disguised as a draft ...
Income Tax : Gujarat HC quashed a Section 148 notice, holding that a seized inquiry register without a live nexus to the assessee cannot justif...
Income Tax : Gujarat HC quashed Section 148 reassessment as it was issued beyond Section 149 limitation, holding Section 152(3) applies to sear...
Income Tax : Madras HC held that merely issuing a corrigendum acknowledging the return did not rectify the defective assessment process and ord...
Income Tax : CBDT FAQs clarify Section 536 transition rules for summons, searches, recovery, penalties, pending 12AB/80G approvals and LDC/NDC ...
Income Tax : CBDT has approved a scientific research institution under the Income-tax Act, 2025 for tax years 2026-27 to 2030-31. The notificat...
Income Tax : CBDT has approved the University of Hyderabad for scientific research under Section 45 of the Income-tax Act, 2025. The approval i...
Income Tax : The Principal Chief Commissioner of Income Tax (Exemptions) approved the company under Section 35(1)(iia) for scientific research ...
Income Tax : The government enforced a tax collection assistance agreement with Japan effective from 8 July 2025. The notification enables cros...
This tip strives to give clarity on which tense shall be used while discussing the law, Legal Precedents and the facts of the case. Let us take an example of a transaction which was held as bogus by the Assessing Officer and against which the assessee is in appeal. 1. Use the Present tense for […]
CITATIONS & ABBREVIATIONS IN DRAFTING This tip clarifies strives to give clarity on: A) How to read or quote citations; B) How to use abbreviations in the text of a legal document. 1. Citations: A legal citation is the practice of referring to the authoritative documents & sources. It is used for citing a reference […]
Direct taxes are taxes where the incidence and impact of taxation falls on the same entity. For instance, income tax, corporation tax, wealth tax and gift tax are direct taxes. Conversely, an indirect tax is not directly levied on the taxpayers. This tax is levied on goods/services and the person on which the burden falls and the person who pays the tax are different.
There has been a phenomenal increase in transactions in virtual digital assets. The magnitude and frequency of these transactions have made it imperative to provide for a specific tax regime. Accordingly, for the taxation of virtual digital assets, the Government has introduced a Section 115BBH under the Income Tax Act, 1961, which provides that any […]
Unlock the secrets of taxability of income on shares. Understand the three-tier tax structure and how it affects your investments.
What Is Advance Tax? As we already know that the income-tax is payable on the income earned during the previous year and it is assessed or charges in the immediate succeeding assessment year (e.g.: I earned income in year 2021-22 will be assessed in next year i.e., 2022-23. In this case, my previous year would […]
Bechtel France SAS Vs DCIT (ITAT Mumbai) Facts: The taxpayer is a company incorporated in France and engaged in the business of procurement and construction. It had set up a project office at Mumbai with site offices at other locations in India to build certain refinery and certain complex. The Commissioner of Income-tax observed that there […]
Understanding the concept of set off and carry forward of loss under the Income Tax Act, 1961. Learn how to adjust losses against profits and maximize tax benefits.
The issue under consideration in this write up is whether disallowance u/s 40(a)(ia), 40A & 43B of Income Tax Act, 1961 are attracted in case of an eligible assessee declaring income under presumptive taxation scheme contained in section 44AD, 44ADA & 44AE. Section 44AD, 44ADA & 44AE starts with a non-obstante clause reading as ”Notwithstanding […]
An in-depth analysis of the Taxation Laws (Amendment) Act, 2021. Understand the implications and changes to the Income Tax Act and Finance Act.
