Section 40A(3) of the Income Tax Act plays a crucial role in regulating cash transactions between businesses and their suppliers or service providers. The section […]
ITAT
ESOP Taxation and Compensation Clarity: Insights from the Flipkart ITAT Ruling
Employee Stock Option Plans, often called ESOPs, have become an increasingly common way for companies to attract and retain talent. They allow employees to purchase […]
Understanding Section 40A(3) and Its Implications on Cash Payments
The Income Tax Act in many jurisdictions contains provisions designed to regulate and monitor the mode of payments made in business and professional transactions. One […]
Tax Compliance and Financial Planning for NRIs: Navigating Indian Income Tax Laws Effectively
Understanding the tax implications for Non-Resident Indians (NRIs) can often be confusing, especially when it comes to income earned abroad and its subsequent credit into […]
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 […]
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 […]
ITAT Clarifies: No Need for Possession to Claim Interest Deduction Under Section 24(b)
Section 24(b) of the Indian Income Tax Act stands as one of the most significant provisions in the realm of taxation related to income derived […]
ITAT Ruling: Understanding Taxation of Compensation from Builders for Delay in Flat Delivery
In the ever-evolving landscape of Indian taxation, one of the most significant and often debated issues is the treatment of compensation receipts. The complexities around […]
ITAT Clarifies: Submitting Written Submissions Doesn’t Mean Waiving Hearing Rights
The right to be heard, enshrined in the venerable doctrine of audi alteram partem, is one of the most enduring pillars of procedural fairness in […]
ITAT Ruling: Clarifying TDS Exemption on Interest Retained by NBFCs in Direct Assignment Loan Deals
The world of financial transactions, particularly those involving loans and their subsequent transfer across financial entities, is increasingly becoming intricate. In India, this complexity has […]