The introduction of GST transformed India’s fiscal federalism by centralizing indirect taxation under a unified framework. While promoting cooperative decision-making through the GST Council, it reduced states’ independent taxing powers.
The government introduces unified safe harbours, faster APAs, and reduced litigation burdens to enhance certainty for multinational enterprises.
Even under the new tax regime, employer contributions to NPS remain deductible under Section 80CCD(2). This reduces taxable income and helps build long-term retirement savings.
Budget 2026 introduces a six-month window to regularise undisclosed foreign assets with reduced penalties and immunity under the Black Money Act.
Sections 15–17 define salary broadly to include allowances, perquisites, and retirement benefits. Tax is charged on the earlier of due or receipt basis.
The Court held that spectrum licences are sovereign privileges, not proprietary assets under IBC. This limits creditor claims and shifts disputes to telecom regulatory forums.
The exemption is rooted in constitutional provisions and Sections 2(1A) and 10(1) of the Income-tax Act. Courts have clarified that only genuine agricultural operations qualify for tax relief.
The analysis shows that India s taxation system, particularly under the Income-tax Act, 1961, is primarily based on economic capacity rather than benefits received. Judicial rulings and constitutional values support progressive, redistributive taxation.
The Tribunal held that when fraud allegations under Section 74 fail, the matter must be remitted to the original proper officer under Section 75(2). The appellate authority cannot itself re-determine tax liability under Section 73.
SEBI’s amended cyber resilience framework strengthens governance by formalizing roles of CTO and CISO and restructuring reporting lines within MIIs. However, the absence of clear individual liability creates an accountability gap despite enhanced oversight mechanisms.
