Perquisites and Profits in Lieu of Salary are important components of taxable income under the Income Tax Act of 1961. These refer to additional financial benefits, compensations, or payments that an employer provides to employees beyond their regular salary or wages. They are considered part of the employee’s income and are therefore subject to taxation.
Budget 2025-26 focuses on growth, tax relief, and investment. GDP projected at 6.3-6.8%, new tax slabs ease burden on middle class, and economic reforms drive progress.
Understand the GST fake invoice issue, tax demand, penalties, and possible solutions, including appeals, payments, and expected amnesty schemes.
Learn about Section 113 of the Companies Act, 2013, which governs corporate representation at company and creditor meetings, including authorization rules.
Key regulatory updates from Income Tax, GST, SEBI, RBI, and DGFT for the week ending Feb 9, 2025, covering tax amendments, compliance changes, and judicial rulings.
Explore the New Tax Bill 2025, replacing the Income Tax Act of 1961. Learn about its simplified structure, global alignment, and challenges during implementation.
Explore the feasibility of flat tax in India. Analyze its impact on equity, revenue, and socio-economic challenges compared to progressive tax systems.
Learn about Input Credit Reversal under Sec 16(2) of GST, its conditions, impact on buyers and sellers, and compliance requirements to avoid audit issues.
In the past year, the Indian Market saw a downturn, and the FIIs sell-off could be a significant factor contributing to this. Let’s delve into the reasons behind the sell-off, its impact, and how the Indian market is still showing resilience. We will also look at the sectors most impacted and explore where FIIs might be investing their money instead.
Explore how new tax rebate under Section 87A allows individuals to avoid tax on incomes up to Rs 12 lakh. Learn through illustrations and FAQs about eligibility, calculations and impacts on special rate incomes.
