A detailed look at how the Finance Act, 2021 reshaped Sections 147–151, introduced Section 148A, and reduced limitation periods while strengthening natural justice safeguards.
Budget 2026 restricts capital gains exemption on SGB redemption to original subscribers only. Secondary market investors redeeming after 1 April 2026 will now face capital gains tax.
Understand how agricultural income is exempt under the Income Tax Act, 1961, why only genuine cultivation qualifies, and where courts draw the line between farming and business.
Explains how the new Act replaces the 1961 law, simplifies drafting, introduces the “Tax Year” concept, and aims to reduce litigation and compliance burdens.
Examines how populist giveaways are funded through taxes and borrowing, potentially raising fiscal deficits and shifting burdens to taxpayers.
A clear analysis of India’s 6% and 2% digital tax framework, its legal basis under the Finance Acts of 2016 and 2020, and its global implications.
The article highlights disparities and stagnation in audit fees paid by public sector banks. It calls for ICAI intervention to ensure uniform benchmarks and respect for Chartered Accountants.
The provision extends penalties to “any person,” exposing tax professionals to liability for alleged facilitation of GST fraud. Courts indicate that penalties require proof of intent, not mere compliance engagement.
GST applies to under-construction properties while land and completed buildings remain exempt. The regime includes 1% and 5% rates without ITC, deemed land valuation, and reverse charge compliance for developers.
The Gujarat High Court set aside detention proceedings after finding unexplained delay in uploading FORM GST MOV-09 and denial of personal hearing. The ruling emphasizes strict compliance with Section 129(3) timelines and Rule 142(5).
