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Goods and Services Tax (GST) has transformed the tax landscape in many countries. It’s an important subject for businesses and consumers...

Starting a sole proprietorship can be an exciting venture. It allows individuals to dive into entrepreneurship with relative ease and low...

Understanding how to maximize your tax savings can significantly impact your financial well-being. By taking the right steps and...

Tax season can be a daunting time for many people. With the looming deadlines and the complicated regulations, it’s easy to feel...

Limited liability is a term that often comes up when discussing the legal structures of a business. It offers significant advantages to...

Navigating the world of taxes can often be overwhelming. Among the various types of taxes, professional tax stands out as a significant...

Starting a business can be an exciting yet daunting journey. One of the simplest and most advantageous ways to do this is through a sole...

When it comes to organizing a business, one of the most popular structures to choose is a private company. This type of organization...

The introduction of the Goods and Services Tax (GST) has brought about significant changes in the business landscape. As a unified tax...

Tax season can often feel overwhelming, but with the right preparation, you can tackle it smoothly. Knowing what steps to take ahead of...

In today's digital age, where nearly everything we do is intertwined with technology, the need for security has never been more pressing....

<p>The Income Tax Appellate Tribunal (ITAT) Chennai Bench has held in favor of Laxmi Nanda Kishore, setting aside the Rs.12.14 lakh addition incurred u/s 69 of the Income Tax Act, 1961. It was discovered by the tribunal that the assessing officer had incorrectly categorized seized gold and silver jewellery as an unexplained investment, overlooking CBDT [&hellip;]</p>

<p>The Commissioner of Income Tax(Appeals)[CIT(A)] order, has been set aside by the Pune Bench of Income Tax Appellate Tribunal (ITAT) which had dismissed the appeal u/s 249(4) of Income Tax Act,1961 for non-payment of advance tax, considering the taxpayers’ senior citizen status and health issues. The taxpayer Hingora Ali Mohd Vali Mohd, plea was dismissed [&hellip;]</p>

<p>The Ahmedabad Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has mentioned that the department cannot assume a refund claim unless it is established under which notification and provision the same has been desired. The Bench of Somesh Arora (Judicial) has noted that &#8220;The lapse of non-filing of refund under proper notification separately [&hellip;]</p>

<p>Quoting risks to the confidentiality of government data and documents the Finance Ministry has furnished a directive restricting the officers and staff from utilizing AI tools such as ChatGPT and DeepSeek on office computers. The Department of Expenditure in a note dated January 29, mentioned that, &#8220;It has been determined that AI tools and AI [&hellip;]</p>

<p>Union Finance Minister Nirmala Sitharaman, to decrease the tax load on people earning Rs 1 lakh per month the government has surged the income tax exemption from ₹7 lakh to ₹12 lakh. FM also mentioned that the government was reducing the income tax slab rates and broadening the tax brackets to provide relief to taxpayers [&hellip;]</p>

<p>Central Board of Direct Taxes (CBDT) Chief Ravi Agrawal sought the industry players to provide their recommendations on the new income tax bill which will be tabled in the Parliament this week. The updated income tax bill shall substitute the 6-decade-old Income Tax Act, 1961, which has been created in 6 months and measures have [&hellip;]</p>

<p>Union Finance Minister Nirmala Sitharaman presented the Union budget 2025-26 before the parliament dated February 1st at 11 AM. The 2025 budget landscape mainly focuses on taxation. The efforts of the Central government show that they are promoting the new tax regime (NTR). The major motive of the budget is to improve the spending power [&hellip;]</p>

<p>It was carried by the Mumbai Bench of Income Tax Appellate Tribunal (ITAT) that the disallowance of ₹1.07 Crore for non-deduction of Tax Deducted at Source (TDS) on reimbursements u/s 40(a)(ia) of Income Tax Act,1961 was not justified as of the tax compliance. The applicant Crisil Limited had been assessed under section 143(3) with an [&hellip;]</p>

<p>A notification has been issued via the Ministry of Finance under the Information Technology Act, 2000, designating key IT systems of the Directorate of Income Tax (Systems), and Central Board of Direct Taxes (CBDT) as Protected Systems. The same proceeding has the motive to secure the significant tax pertinent digital infrastructure against cyber threats and [&hellip;]</p>