Blog

Valid Reassessment Proceedings Upheld: HC Clarifies Existing Tax Law

28 Apr, 2025

Introduction: What Does Valid Reassessment Proceedings Mean? Valid reassessment proceedings refer to the lawful reopening of an already completed income tax assessment. Recently, a High Court upheld the reassessment initiated by the Assessing Officer (AO), confirming that the reopening aligned with existing statutory provisions. This brings clarity for Indian taxpayers and businesses navigating reassessment notices. […]

Read More

Revised Return After Compensation: Tax Authorities Must Accept

28 Apr, 2025

Revised Return After Compensation: Your Rights Under Income Tax Law Filing your income tax return (ITR) accurately is crucial. But what if you receive legitimate compensation after filing your original return? Can you submit a revised return to update your income details? Yes — and tax authorities must accept it if your claim is genuine. […]

Read More

Standardize April 1st for ITR Forms Release: KSCAA’s Request to CBDT

28 Apr, 2025

Introduction: Standardize April 1st ITR release – that’s the strong request from the Karnataka State Chartered Accountants Association (KSCAA) to CBDT. With return filing becoming tighter each year, timely release of forms and utilities is critical for smooth compliance. Why KSCAA Wants April 1st as the ITR Release Standard The KSCAA has formally urged the […]

Read More

Who Gets Taxed When a Firm Sells Land and Assets?

28 Apr, 2025

When a Firm Sells Land: What’s Taxed and What’s Not? When a firm sells land, confusion often arises — does the firm pay tax, or do the partners?A recent ITAT (Income Tax Appellate Tribunal) decision brings much-needed clarity. In simple terms: This distinction can significantly change your tax liability. Key Legal Principles You Must Know […]

Read More

New EPFO Form 13: Separate Taxable and Non-Taxable PF Components

28 Apr, 2025

EPFO Form 13 Update: What Indian Taxpayers Must Know In a major compliance shift, the Employees’ Provident Fund Organisation (EPFO) has updated Form 13 to separately capture taxable and non-taxable PF components. This change, aligned with Income Tax Rule 9D, ensures accurate TDS deductions on PF interest — a critical update for employees transferring PF […]

Read More

India’s Direct Tax Collection for FY 2024-25 Crosses ₹22.26 Lakh Crore

28 Apr, 2025

India’s Direct Tax Collection: A Milestone Crossed India’s direct tax collection for FY 2024-25 has officially hit ₹22.26 lakh crore, meeting the government’s ambitious target. This record achievement, confirmed by CBDT, signals a resilient economy and steady taxpayer compliance despite global uncertainties. Let’s break down what this means for taxpayers, consultants, and India’s fiscal roadmap. […]

Read More

Foreign Company Can Offset PE Losses Against Technical Service Income

28 Apr, 2025

Foreign Company Can Offset PE Losses Against Technical Service Income: ITAT Ruling Explained When a foreign company has a Permanent Establishment (PE) in India, questions often arise about how its Indian losses and foreign earnings interact under tax laws. Recently, the Income Tax Appellate Tribunal (ITAT) has ruled that foreign companies can offset losses of […]

Read More

Limitation on Debt Interest Deduction in Cross-Border Transactions

28 Apr, 2025

Cross-border funding structures are under fresh scrutiny. This impacts Indian businesses borrowing from foreign entities. In this blog, we break it down in simple terms. Key points under Section 94B: What’s Changing with Clause 177 of the Income Tax Bill, 2025? Clause 177 proposes a sharper framework to limit debt-based tax avoidance. Major updates: Key […]

Read More

Why RBI Urges US Companies to Invest in India: What It Means for Business

28 Apr, 2025

Why RBI Urges US Companies to Invest in India: What It Means for Business India’s economy is calling global investors louder than ever. Recently, RBI Governor Sanjay Malhotra urged US companies to expand their investments in India, citing structural reforms, strong growth prospects, and a stable financial environment. This move reflects India’s ambition to become […]

Read More
Latest Article
Category

Social Links