The Central Board of Direct Taxes (CBDT) has introduced crucial updates to the Tax Audit Report, specifically the Form No. 3CD, which will be effective […]
Understanding Input Tax Credit: The Foundation
Input Tax Credit (ITC) is a vital component of any indirect tax system designed to avoid the problem of tax-on-tax or cascading effect of taxes. […]
Introduction to Indirect Tax Rulings in 2024
The landscape of indirect taxation continues to evolve rapidly, with courts and tax authorities offering clarity on complex issues through landmark rulings. The year 2024 […]
Tax Audit: An Overview and Its Importance
A tax audit is a thorough examination of a taxpayer’s financial records by a qualified Chartered Accountant (CA) to ensure compliance with the Income Tax […]
Income Tax Searches and Gold Seizure: A Comprehensive Guide to Laws and Judicial Rulings
Gold has always held a unique place in the economic and cultural landscape of many countries. Its value, durability, and portability make it a favored […]
Mastering Section 194Q: Practical Guide to TDS on Payments for Purchase of Goods
Section 194Q mandates that any buyer who purchases goods from a resident seller must deduct TDS on the purchase amount if certain thresholds are crossed. […]
Introduction to GST Annual Return Filing
The Goods and Services Tax (GST) system has revolutionized indirect taxation in many countries by integrating various taxes into a single, unified structure. Registered taxpayers […]
Understanding GST and Its Role in Indirect Taxation
Goods and Services Tax (GST) is a comprehensive, multi-stage, destination-based tax that has transformed indirect taxation in many countries. It is levied on every value […]
Understanding Improvement Expenses in Tax Law
Improvement expenses often become a point of debate in tax assessments, especially when taxpayers claim them to reduce capital gains. These expenses are not just […]
The Tax Revolution in India
Before the introduction of the Goods and Services Tax, India’s indirect tax system was a complex web of central, state, and local levies. Businesses had […]