Latest Happening in Income Tax in India
Section 263 and the Supreme Court’s New Guardrails: A Fresh Look at Revisionary Powers Section 263 of the Income Tax Act, 1961 has long been a double-edged sword in the…
Picture a scenario where a single approving authority is expected to review and sign off on 85 complex tax assessment orders in just one day. Can genuine scrutiny and independent…
The Direct Tax Vivad se Vishwas (DTVSV) Scheme, 2024, established by Chapter IV (Section 88 to 99) of the Finance (No.2) Act, 2024, is a program implemented by the Indian…
Tax loss harvesting is a strategic financial practice utilized by savvy investors to reduce their tax liability arising from capital gains. By selling certain investments at a loss, investors can…
Taxes are not just statutory obligations; they are the backbone of a nation’s development, enabling the government to build infrastructure, provide essential services, and foster economic growth. Despite these benefits,…
In a landmark judgment that reverberates through the corridors of tax planning and legal stratagems, the Hyderabad Bench of the Income Tax Appellate Tribunal (ITAT) laid down a decisive ruling…
Navigating the vast and intricate world of finance can be both challenging and enlightening, especially when it comes to understanding rental properties and the ensuing tax implications. This article serves…
Cryptocurrencies, heralded as the forefront of technological evolution in finance, are digital or virtual currencies that use cryptography for security. Unlike traditional currencies, they are decentralized and typically operate on…
In the multifaceted world of international business and taxation, transfer pricing stands out as a critical concern for multinational corporations. It involves setting the prices for goods and services transferred…
India, a burgeoning hub of innovation and entrepreneurship, has witnessed a remarkable surge in startups over the past few years. Recognizing the potential of these startups in driving economic growth…
Introduction to New Provisions of Income Tax Return and Its Importance In a bid to further streamline the income tax return process, and to continue empowering taxpayers, the Government of…
Modern tax administration relies not only on the compliance of its taxpayers but also on the robustness and fairness of its assessment processes. As part of this system, Section 263…