Latest Happening in Income Tax in India
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…
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…
Section 54F and the Changing Landscape of Capital Gains Exemption Section 54F of the Income Tax Act has long served as a vital relief for taxpayers looking to reinvest capital…
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…