The Telangana High Court’s recent decision to quash reassessment proceedings under Sections 148A and 148 of the Income Tax Act, 1961, for failing to comply with the faceless assessment mandate,…
Small Businesses, Big Relief: Understanding Presumptive Taxation and the High Court’s Landmark Ruling For lakhs of small business owners across India, the compliance burden of income tax can feel…
Surveys under the Income Tax Act often unearth unaccounted stock, leaving both businesses and tax professionals grappling with a crucial question: Should such excess stock be taxed as regular business…
The digital age has transformed how businesses communicate, with WhatsApp, emails, and other messaging platforms now woven into daily operations. This shift has not gone unnoticed by tax authorities, who…
Timelines are the backbone of tax litigation. For taxpayers and practitioners, a single miscalculation of an appeal deadline can mean the difference between a fair hearing and a lost cause….
India’s capital gains exemption regime is designed to encourage taxpayers to reinvest their gains in productive assets—be it a new home or agricultural land. Yet, in real life, the process…
Duty Credit Scrips (DCS) have long been a cornerstone of India’s export promotion strategy, rewarding exporters under flagship schemes like MEIS, SEIS, and RoDTEP. While these scrips offer tangible financial…
Ocean freight is the backbone of India’s import economy. With over 90% of India’s trade by volume moving through sea routes, the cost and tax treatment of ocean freight directly…
Navigating GST Compliance: Relief for Exporters Facing Technical Lapses Exporters in India operate in a regulatory environment where even minor procedural missteps can trigger significant consequences. The recent Madras High…
India’s GST regime was designed to ensure seamless credit flow and avoid tax cascading. Yet, for many businesses, especially those dealing with similar input and output goods—like T-shirt printers and…
For every business and many individuals, TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) are not just routine tax formalities—they are the backbone of India’s tax collection…
The Calcutta High Court’s recent decision in Winsome Highrise Pvt. Ltd. & Anr. vs Union of India & Ors. has sent ripples through the Indian tax community. By setting aside…