The Right to Information (RTI) Act, 2005, stands as a cornerstone of transparency and accountability in India, granting citizens the right to request information from […]
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What Makes International Financial Service Centres (IFSCs) a Global Financial Hub
In an increasingly interconnected world, financial centres have evolved to meet the growing demand for cross-border transactions and international investment opportunities. One such innovation that […]
Understanding the Role and Benefits of an International Financial Services Centre (IFSC)
The concept of International Financial Services Centres (IFSCs) represents a significant shift in the global financial landscape, offering a specialised platform for international businesses and […]
Supreme Court Ruling: A Victory for GST Credit Unblocking Under Rule 86A
The Goods and Services Tax (GST) regime in India was introduced to simplify the taxation process and improve the transparency and fairness of the tax […]
GST Exemption on Architectural Services for Municipal Corporations: Key Insights from AAR Ruling
The Goods and Services Tax (GST) regime in India, introduced in 2017, aims to streamline taxation by consolidating numerous indirect taxes into a singular tax […]
The Divergence in Monetary Limits for CGST and SGST Adjudication
India’s Goods and Services Tax (GST) is a transformative reform in the country’s tax landscape, underpinned by the principles of fiscal federalism and co-operative federalism. […]
A Comprehensive Guide to Interest Rate Derivatives: Understanding the Key Instruments
Interest rate derivatives (IRDs) represent a class of financial instruments designed to provide solutions to market participants facing the uncertainty of interest rate fluctuations. These […]
Navigating the Maze of the Prevention of Money Laundering Act (PMLA): Key Powers and Procedures
The Prevention of Money Laundering Act (PMLA) represents a cornerstone in India’s legal framework to combat the growing menace of money laundering. It equips enforcement […]
When Cash Payments are Essential for Business, Section 40A(3) Does Not Apply
Section 40A(3) of the Income Tax Act, 1961, is an integral provision within the tax code of India, designed to regulate how businesses make payments, […]
Clarifying Section 40A(3): ITAT’s Take on Necessary Cash Payments for Business Expenses
The Income Tax Act, 1961, remains the cornerstone of the Indian taxation system, governing the financial obligations of individuals and businesses alike. One of the […]