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Introduction The Indian Income Tax Act has been continuously evolving to address the complexities of tax compliance and improve the ease of doing business. One significant proposal on the horizon…
The Indian Income Tax Act continually evolves to address the complexities of modern financial transactions and to streamline tax compliance processes. One such recent development is the proposed amendment to…
The Indian Income Tax Act includes several provisions that outline the consequences of failing to deduct or collect taxes. Two crucial sections, Section 201 and Section 206C, govern the actions…
The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, commonly known as the Black Money Act, was enacted to tackle the issue of undisclosed foreign…
In the evolving digital landscape, governments worldwide are continually adjusting their tax policies to capture revenue from digital transactions. India is no exception, having introduced the concept of Equalisation Levy…
The Income-tax Act, 1961, provides a comprehensive mechanism for filing appeals against orders passed under its proceedings. Both taxpayers and the Department have the right to appeal before various appellate…
The Income Tax Act, 1961, has undergone numerous changes to adapt to the evolving economic landscape. One significant amendment brought about by the Finance Act, 2018, impacted Section 55 of…
When it comes to business expenses, Section 37 of the Income Tax Act plays a pivotal role. This section determines what qualifies as a deductible business expense. However, not all…
The Income Tax Act is a dynamic piece of legislation, continually evolving to address new challenges and ensure fair taxation practices. Two significant amendments have been proposed, aimed at rectifying…
Introduction Tax regulations for life insurance companies are a critical aspect of maintaining fair business practices and ensuring proper revenue collection. Section 44 of the Income Tax Act and Rule…