The Digital Personal Data Protection Act, 2023, represents a landmark moment in India’s legal and technological evolution. As the country’s first dedicated legislation addressing personal […]
SEBI Board Meeting: Key Resolutions and Announcements
The Securities and Exchange Board of India (SEBI) plays a pivotal role in regulating and developing the securities market in India. As a statutory body […]
Corporate Gifting and Tax Implications: A Closer Look at the Amendment to Section 47(iii)
Chapter IV-E of the Income Tax Act, 1961, deals with the taxation of capital gains. According to Section 45(1) of the Act, any profits or […]
Roles, Responsibilities, and Powers of the Competition Commission of India
The Competition Commission of India is the regulatory authority entrusted with maintaining fair competition in markets across the country. Established under the Competition Act, 2002, […]
Understanding the Interplay Between Section 43B of the Income Tax Act and the MSME Act
Micro, Small, and Medium Enterprises (MSMEs) form the backbone of the Indian economy. This sector contributes significantly to India’s gross domestic product and plays a […]
Insolvency Professional Agencies in India: A Complete Overview
The Insolvency and Bankruptcy Code, 2016 (IBC), established a comprehensive and structured framework for resolving insolvency and bankruptcy cases in India. This legal framework emphasized […]
Determining the Residential Status of a Company under the Income Tax Act
The residential status of a company for tax purposes is determined under Section 6(3) of the Income Tax Act. According to this section, the determination […]
Comparison of Income Tax Rates for AY 2024-25 and 2025-26: Old vs New Regime
Understanding the main features of income‑tax laws is essential for taxpayers to make informed decisions. The regular tax regime follows a conventional structure with exemptions […]
Accounting Treatment of Minimum Alternate Tax in Financial Statements
Minimum Alternate Tax is a mechanism under the Indian Income Tax Act that ensures companies with substantial book profits and minimal or zero tax liability […]
Understanding the Role and Authority of the Competition Commission of India (CCI)
The Competition Commission of India (CCI) is a statutory body constituted under the Competition Act, 2002. Its primary responsibility is to promote and sustain market […]
A Comprehensive Guide to Business Combinations Under Ind AS 103
Business combination is the process by which two or more business organisations or their net assets are brought under common control within a single business […]
Understanding Immovable Property under GST: Definition, Case Laws, and Exceptions
Immovable property under the Goods and Services Tax framework is a critical concept, especially in determining the applicability of works contracts. Under GST, a works […]
A Comprehensive Guide to Salary Income and Its Tax Computation
To understand the meaning of the expression salary under the Income Tax Act, it is essential to identify the nature of the relationship between the […]
Understanding Share Buybacks: Meaning, Purpose, and Methods
Initially, the Companies Act, 1956 did not contain any provisions allowing companies to buy back their shares. However, due to increasing demands from the corporate […]
ITAT: Interest on Borrowed Capital Deductible Under Section 24(b) for Property Construction and Leasing Companies
In a recent ruling by the Income Tax Appellate Tribunal (ITAT) Mumbai, the question of whether interest on borrowed capital used by a company engaged […]