Navigating the intricacies of the Income Tax Act can be a daunting task, especially when it comes to filing appeals. One of the key provisions that taxpayers need to be…
The Finance Act, 2023, has introduced crucial amendments to the Income Tax Act, specifically targeting the provisions related to the set off and withholding of refunds. These changes aim to…
Understanding the intricacies of tax legislation can be challenging, but it's essential for ensuring compliance and avoiding penalties. One such critical aspect is the period of limitation for imposing penalties…
The Finance Act of 2021 introduced significant changes to the procedures for assessment and reassessment of income under the Income Tax Act, effective from April 1, 2021. These changes primarily…
Introduction to the Finance Act, 2021 Amendments The Finance Act, 2021 introduced pivotal changes to streamline and rationalize the assessment provisions under the Income Tax Act. These amendments aim to…
Introduction In a bid to enhance investment and employment opportunities, the Indian government has introduced several tax incentives and regulatory amendments, particularly targeting the International Financial Services Centre (IFSC) and…
The Finance (No. 2) Bill, 2024 aims to amend the Income-tax Act, 1901, and other related Acts to continue reforms in the direct tax system by providing tax reliefs, addressing…
Introduction The rapid growth of the telecommunications sector in India necessitated specific tax provisions to support infrastructure development. Section 35ABB of the Income Tax Act, introduced by the Finance Act,…
The telecommunication industry has seen substantial changes with the introduction of spectrum fees for the auction of airwaves. To address the tax treatment of these payments, the Finance Act, 2016…
In the realm of business, acquiring advanced knowledge and techniques, commonly referred to as "know-how," is crucial for staying competitive and innovative. Recognizing this, the Income Tax Act of India…