Guest Post
A Guide to Smart Tax Planning in India Tax season often brings a wave of stress for many individuals and business owners. The scramble to gather documents and file returns can feel overwhelming. How ........ View More
CA Sunil Arora
Public advisory issued by the department as part of compliance-cum-awareness campaign regarding disclosure of Foreign Income Assets. The taxpayers who have not disclosed their foreign income or for ........ View More
Section 147. Income escaping assessment After complying with the provisions of Section 148 to 153, the A.O. may assess or reassess income which has escaped assessment. Section 148. Issue of notice ........ View More
The proposed provisions with respect to reassessment of income have made substantial changes to the existing law contained in section 148, 148A, 149 and Section 151 of the statute. Some of them are br ........ View More
Provisions with respect to reassessment of income contained in section 147 to 151 of the Income Tax Act, 1961 were substituted by the Finance Act 2021, with effect from 1st of April 2021. The said sub ........ View More
Section 194-IA of the Income Tax Act, 1961 primarily provides for deduction of tax at the rate of 1% of consideration paid to a resident for acquisition of an immovable property. The said provision ........ View More
The concept of taxing premium on issue of shares was brought in to the statute by Finance Act, 2012 with effect from 1st of April, 2013 by inserting section 56(2)(viib) in the Income Tax Act, 1961. Th ........ View More
Changes proposed by the Finance Bill, 2024 with respect to Taxation of Long Term Capital Gains arising from Assets other than Financial Assets. The Finance Bill, 2024 introduced by the Finance Mini ........ View More
The Finance Bill, 2024 introduced by the Hon’ble Finance Minister in Parliament on 23rd July, 2024 has proposed total revamping of provisions with respect to taxability of buyback of shares by a compa ........ View More
MSME units make a major contribution towards the economy and for generation of employment in our country. The legislature brought into the statute Micro-Small and Medium Enterprise Development Act, 20 ........ View More