The advent of the Goods and Services Tax (GST) in India in 2017 was a momentous shift in the country’s taxation framework, signaling a move […]
Trust Tax Rules: Excess Expenses Over Income and Escaped Income Clarified
Reopening of assessments is an important aspect of taxation laws, meant to ensure that cases of escaped income are properly examined. In principle, tax authorities […]
Navigating Tax Relief: Business Loss Set-Off Against Short-Term Capital Gains Explained
The interplay between business losses and short-term capital gains has long been a subject of scrutiny within the realm of taxation, especially when it comes […]
Mastering ESOPs: A Complete Guide to Policy, Taxation, and Legal Insights
Employee Stock Option Plans (ESOPs) and Sweat Equity are two potent mechanisms employed by organizations to reward their most valuable asset — employees. These incentive […]
Decoding the Taxation of Interest on PF: What You Need to Know
Provident funds, especially the Employee Provident Fund (EPF), have long been regarded as a reliable and secure means of saving for retirement. With its Exempt-Exempt-Exempt […]
Company Explained: Meaning, Characteristics, and Important Legal Updates
A company is a legal entity formed by a group of individuals to engage in a business or commercial activities. Unlike a sole proprietorship or […]
GST Basics: Meaning, Scope of Supply, and How Levy Works
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 […]
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 […]