The Income Tax Act, 1961, is subject to frequent amendments to keep pace with changing economic and business landscapes. Two critical sections of the Act, namely Section 194G and Section…
Tax Deducted at Source (TDS) is a critical mechanism in the Indian taxation system, ensuring the collection of tax at the very source of income. However, with multiple thresholds and…
In the ever-evolving landscape of financial regulations, staying updated with the latest amendments is crucial for investors and financial advisors alike. One such significant amendment was introduced by the Finance…
The government has announced significant changes to the taxation of capital gains, aiming to simplify and rationalize the process. These changes are designed to make the tax system more straightforward…
The Income Tax Act, a crucial piece of legislation in India's financial landscape, constantly evolves to address emerging issues and streamline processes. One such significant amendment is the proposed update…
In the ever-evolving landscape of taxation and compliance, mergers and amalgamations of trusts and institutions play a pivotal role. When two entities, both approved or registered under the Income Tax…
In the ever-evolving landscape of the Income Tax Act, the Indian government continuously strives to enhance efficiency and transparency. One of the significant steps in this direction is the rationalisation…
Section 80G of the Income Tax Act, 1961, is a crucial provision for individuals and entities looking to contribute to philanthropic causes. This section provides tax benefits for donations made…
Introduction Under Section 12AB of the Income Tax Act, trusts or institutions seeking registration must apply within the specified timelines as outlined in clause (ac) of sub-section (1) of Section…
Charitable trusts and institutions play a pivotal role in societal development, leveraging tax exemptions to amplify their impact. In a move towards simplification and efficiency, significant changes are on the…