Goods and Services Tax, or GST, is an indirect tax system that has replaced a complex structure of multiple indirect taxes. It is designed to […]
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Understanding the Context of Section 35(2AB) Deduction
Section 35(2AB) of the Income Tax law is a specific provision designed to encourage research and development activities by granting additional deductions to eligible taxpayers. […]
Mastering Bank Audits: Procedures for Reporting Cash and Balances Effectively
Bank audits are an integral part of ensuring the financial integrity and transparency of financial institutions. They play a vital role in maintaining public trust […]
Complete Guide to the Revised Income-Tax Due Dates You Need to Know
The introduction of the Taxation Laws (Amendment) Act, 2020 (TLA Act, 2020), marked a pivotal moment in India’s tax landscape, offering timely relief during a […]
Streamlining Tax Compliance: CBDT’s New E-Filing Requirements You Need to Know
The Central Board of Direct Taxes (CBDT) stands as the apex body overseeing the enforcement of direct tax laws in India. It plays a critical […]
GST Error Leads to Remand: Why 36% GST Was Charged Instead of 18%
India’s Goods and Services Tax regime, a landmark reform in the nation’s fiscal architecture, was introduced with the ambition of harmonizing the patchwork of indirect […]
How MMR Surcharge Affects Taxpayers with Income Below Rs. 50 Lakhs: ITAT’s Insight
The intricate landscape of India’s tax framework is designed to ensure a systematic and fair distribution of tax obligations based on individual earnings. Within this […]
Understanding Banking Essentials: Products, Services, and the Role of CIBIL Score
In the ever-changing world of finance, banking has undergone a profound transformation, evolving from a mere repository for savings into a complex system of products […]
Understanding CBDT’s Decision to Condone Delay in Form 10-IC Filing for AY 2021-22
The landscape of corporate taxation in India has evolved considerably over the years, especially with the introduction of various tax reforms aimed at simplifying compliance. […]
CESTAT Ruling: How to Compute Service Tax Based on Audited Balance Sheet Figures
The Indian tax system, particularly the Goods and Services Tax (GST) framework introduced in 2017, has undergone substantial transformation, simplifying the tax administration for most […]