The digital revolution has transformed commerce, with e-commerce platforms acting as intermediaries between sellers and buyers across the country. To ensure transparency in income reporting […]
Reopening of Assessments: Important Judgments and Practical Case Law Insights
The reassessment provisions under Section 147 of the Income-tax Act, 1961 have undergone significant evolution, particularly with the introduction of Sections 148A, 149, and 151 […]
Step-by-Step Income Tax Calculation and e-Filing Guide for Financial Year 2017-18
As individuals strive to earn a livelihood to fulfill their personal and family needs, the Government simultaneously requires funds to build infrastructure, provide public services, […]
Section 195 Explained: TDS on Payments to Non-Residents and Foreign Companies
International transactions have increased significantly in recent decades due to globalization, technological advancement, and expansion of services across borders. Indian companies and individuals frequently make […]
Income Tax Appeals Demystified: Who Can Appeal Under Section 246A
The Income Tax Act, 1961 provides a structured mechanism for appeals to ensure that taxpayers or other affected individuals have an opportunity to contest orders […]
Comprehensive Guide to Clause 22 to Clause 25 in Tax Audit Report under ICAI Guidance Note
The tax audit requirement under the Income-tax Act, 1961 compels businesses crossing the specified turnover threshold to furnish a detailed report in Form 3CD. Each […]
How to Choose the Best Business Form: All Types of Business Entities Explained
A business organisation defines the legal and structural framework within which a business operates. It determines how a business is owned, managed, and regulated. This […]
Employee Benefits Accounting Explained: Gratuity and Ind AS 19 Compliance
The accounting of employee benefits is one of the most critical areas in financial reporting as it directly impacts both the liabilities of an enterprise […]
Major Highlights of the Banking Laws (Amendment) Bill, 2024 You Must Know
On December 3, 2024, the Lok Sabha passed the Banking Laws (Amendment) Bill, 2024, marking a significant shift in India’s banking legislative landscape. The Bill […]
TDS on Cross-Border Transactions: Import of Goods, SEP, and International Taxation
Cross-border transactions have always attracted attention from both businesses and regulators due to the intricate web of domestic laws, international tax treaties, and evolving global […]
Annual Information Statement (AIS) vs Form 26AS: What Every Taxpayer Must Know
In the landscape of tax compliance, transparency, and self-assessment, one of the significant developments in recent years has been the evolution of Form 26AS into […]
Income from House Property: Tax Rules for Let-Out and Self-Occupied Property
The taxation of income in India is organized under different heads, and one of the most significant categories is income from house property. This head […]
How Much Tax You Pay on Online Gaming Winnings Under New Income Tax Rules
Online gaming in India has transformed from a niche pastime into a significant segment of the digital economy. The sector has witnessed unprecedented growth in […]
Filing Appeal Before Commissioner of Income Tax (Appeals): Procedure and Fee Structure
The appellate structure under the Income-tax Act has always been a significant safeguard for taxpayers who are dissatisfied with the actions of the Assessing Officer. […]
Section 195 TDS Explained: Complete Guide to Tax Deduction on Payments to NRIs
Section 195 of the Income-tax Act, 1961 plays a crucial role in the taxation framework involving non-residents. It mandates the deduction of tax at source […]