Latest from Tax laws

Uttar Pradesh v/s Kores India Ltd (1977): Supreme Court Ruling on Interpretat...

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Uttar Pradesh Vs Kores India Ltd (Air 1977 Sc 132 ) Facts: The respondent which is a company incorporated under the Indian Companies Act dealing with carbon paper, typewriter, ribbon, stapler m...

Effect of Tax Avoidance and Tax Evasion on Economic Development

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Tax Avoidance vs. Tax Evasion Tax Avoidance: Legal methods to minimize tax liability through financial planning Tax Evasion: Illegal practices to escape paying taxes, such as underreporti...

Hindu Undivided Family and Income Tax in India: A Comprehensive Analysis

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Under Indian tax law, the Hindu Undivided Family (HUF) is a special legal entity that is well known for its possible tax advantages. This study examines the complex connection between income ta...

Analysis Of Corporate Tax Under The Income Tax Act, 1961

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This research paper investigates corporate taxation as outlined in the Indian Income Tax Act of 1961, highlighting the Act's central role as a cornerstone of India's tax system and the contribu...

Taxation Impact On Both Small And Large Scale Business

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Tax law modification can significantly affect both small and large businesses impacting their operations profitability and strategic planning. These changes can arise from adjustments to tax da...

Tax Evasion In Charitable Institutions: Legal Challenges, Regulatory Reforms,...

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Overview of Charitable Institutions in IndiaSocio-economic progress in India depends heavily on charitable institutions that have existed in the nation for a long period. There exists a wide rang...

Digital Economy And Taxation In India

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The globalized and intangible character of digital transactions creates a number of complex issues for India's digital economy's taxation. This makes it more difficult to attribute profits beca...

Evolution Of Tax Law In India: A Historical Perspective

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In India, the system of taxation as it is known today has been in force in one form or another even from ancient times. In this article we are discussing how the income tax evolved over the tim...

Understanding India's Tax System: Direct vs Indirect Taxes, GST, and the New ...

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This research article aims to provide a comprehensive comparative analysis of India's tax structure. The Indian taxation system is a multifaceted and dynamic structure, crucial for revenue gene...

Legal Loopholes, Gray Areas, and Creative Deception in Indian Income Tax Law

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Taxation forms the bedrock of a functioning society, providing the necessary revenue for governments to fund public services and infrastructure. The legal frameworks governing taxation are inhe...

Impact Of Taxation On Investment

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Taxation refers to a procedure in which the government imposes tax compulsory financial charges or levies upon its citizens, corporations, and other taxable entities. These assessments are implem...

Union Budget 2025: Analysis With A Legal Perspective

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India's Economic GrowthIndia continues to hold the title of “One of the fastest growing economies” in the world. Over the past decade, the country has made remarkable developments and implem...

Dispute Resolution Mechanism Related To Taxation

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The dispute resolution mechanisms is a directive that lays down rules for swiftly and efficiently resolving disputes related to the interpretation and application of tax treaties for both busin...

Intersection of Trade and Tax in International Law: Global Framework and Emer...

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International trade has been a cornerstone of global relations since the earliest days of civilization. However, trade and investment have surged significantly since the 20th century, largely d...

Taxation Of E Commerce India

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E-commerce has transformed the business landscape in India, creating new taxation challenges. With over 600 million internet users, this sector is expanding rapidly, requiring a well-structured...

The Evolution Of Taxation From Ancient To Modern Times: A Comparative Analysi...

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Taxation [before & after 1947] Taxation plays a crucial role for thousands of years. It helps government for their functions and providing public services. The word tax was originated from ...

The Role Of Blockchain Technology In Modernizing Tax Collection

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By increasing transparency, lowering fraud, and streamlining revenue operations, blockchain technology might completely change tax collecting. Conventions of tax collecting often suffer from in...

Case Analysis: Shri Dhar Sabha Vaishno Devi v/s CITE (ITAT Amritsar, 2020)

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Shri Dhar Sabha Vaishno Devi v CITE ITA No.53/ASR/2017. Brief facts: The present matter pertains to the registration of Shri Dhar Sabha under §12A of the IT Act[1]. The factual matrix began w...

Challenges In Implementing Tax Reforms In India

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Since the early 1990s, India's tax policy has seen major changes; nonetheless, problems in building a fair, efficient, and revenue-generating tax system still exist. This article analyses chang...

Understanding The Reverse Charge Mechanism (RCM) Under GST

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The Goods and Services Tax (GST) has simplified India's complex tax structure, aiming for a single tax on the supply of goods and services across the country. Within GST, the Reverse Charge Mec...

Understanding GST: A Comprehensive Guide to India’s Goods and Services Tax

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The Goods and Services Tax (GST) is a comprehensive indirect tax system applied across India on goods and services. GST replaced various prior indirect taxes, aiming to simplify the tax structu...

The Alarming Issue of Tax Evasion in India: A Persistent Challenge and Its Ul...

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Taxation is the backbone of any nation's economy, acting as the primary source of revenue for the government to fund essential services such as infrastructure development, healthcare, education...

Understanding Income Accrued or Deemed to Accrue or Arise in India – A Taxa...

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Taxation is an essential component of any economy, ensuring that the government has the necessary funds to finance public services and infrastructure. In India, the Income Tax Act, 1961, govern...

India's New Tax Regime: A Comprehensive Guide

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India's taxation landscape has witnessed significant reforms in recent years, with the objective of simplifying tax structures and offering greater flexibility to taxpayers. One of the most not...

Impact of GST on E-Commerce Businesses

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The Goods and Services Tax (GST) has revolutionized India's taxation system since its implementation on July 1, 2017. While GST has streamlined indirect taxation across industries, its impact o...

The Principle Of Equity In Taxation: Ensuring Fairness In Tax Systems

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Taxation is a fundamental tool for governments to generate revenue and provide public services such as healthcare, education, and infrastructure. However, a crucial concern in any tax system is...

A Critical Analysis Of The Taxation Of Real Estate Transactions In India: Loo...

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Real estate transactions in India are taxed under a complex system that is being regulated by many legislation, including the RERA Act, the Goods and Services Tax (GST) Act, and State-specific ...

Taxation's Pivotal Role: Fueling Economic Growth and Development

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Ever wonder where the money for schools, roads, and hospitals comes from? It all starts with taxation. Taxation is how governments get funds. These funds help them pay for services and projects...

Property Tax in India: A Complete Guide to Calculation, Exemptions, and Payme...

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Property tax plays a vital role in local governance across India, affecting every individual who owns land or invests in real estate. This guide offers an in-depth exploration of property tax i...

An Income Tax Return For Firms/LLP

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The Central Board of Direct Taxes (CBDT) has made it mandatory to file Income Tax Returns for all Firms and LLPS Irrespective of their income or loss. ITR-5 (ITR-4 for presumptive income in cas...

Taxing the Poor: How Biased Calculations and Systemic Inequities Deepen Econo...

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Area of Focus: This blog examines the inherent biases in tax calculations that disproportionately target the economically disadvantaged, exacerbating poverty and widening the gap between the r...

The Great Tax Divide: How Unfair And Unbalanced Taxation Is Reshaping Careers...

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Area of Focus: This blog explores the inequities in the taxation system, focusing on how salaries, businesses, and professions are taxed unevenly, creating a ripple effect that impacts career ...

Clause 119 of the Union Budget: Impact of 'And/Or' in Section 17(5)(d) of the...

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The main aim of the Union Budget for 2025-26 has been the boosting of the ease of doing business, a focal concept for all businesses to ensure seamless growth with reduced tax and compliance bu...

Exploring The Concept Of Assesse Under Section 2(7): Types, Compliance And Ta...

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Taxation is a fundamental pillar of any legal and economic system, ensuring that individuals and entities contribute to national revenue. In India, the Income Tax Act, 1961 lays down taxation p...

Taxation System In India

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Taxation is always viewed as an unwelcome imposition- a pain that one does not wish to put themselves in. But what makes so many people unwilling to pay taxes, even when they understand how crucial...

Understanding Taxation Laws: A Comprehensive Guide to Compliance, Deductions,...

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Taxation is a fundamental aspect of modern economies allowing governments to fund important public services such as infrastructure, education, and healthcare. However, complying with tax laws c...

The Pink Tax: How Women Pay More In Hidden Taxes

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Introduction: The Price of Being a Woman Imagine stepping into a store and selecting two similar razors. The first is branded "for men" and the second "for women." So, what m...

Understanding Standard Deduction: A Key Tax Benefit

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This deals with the concept of the standard deduction, a crucial tax benefit that simplifies tax filing and reduces taxable income for millions of salaried individuals and pensioners. With ...

The Ultimate Guide To Capital Gains Taxation And Smart Exemption Planning

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Capital gains taxation is a crucial part of income tax law, governing the taxation of profits from the sale of capital assets. Understanding capital assets, short-term and long-term capital gai...

Exemption From Reverse Charge To Persons Under GST Composition Scheme

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The Goods and Services Tax (GST) introduced by government on 1st of July 2017 defined in Article 366 (12A) of the Indian Constitution. The Goods and Services Tax (GST) regime offers such a comp...

Supply by and to SEZ Under GST: Understanding the Tax Implications

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On 1st of July 2017, GST (Goods and Services Tax) was introduced, defined in Article 366 (12A) of the Indian Constitution as, “any tax on supply of goods, or services or both except taxes on t...

The Silent Battle Of Indian Middle-Class Taxpayers

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This article examines the disproportionate tax burden on the middle class, highlighting how limited personal disposable income, multiple taxation categories, and indirect taxes exacerbate their...

Corporate Taxation: Impact, Planning Strategies, And Global Perspective

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Corporate taxation is an important source of government revenue around the world and a major consideration in planning business activities. This article identifies the economics incentives crea...

Union Budget 2025-26: Key Highlights, Initiatives, and Impact on India's Economy

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Analytical Overview of India's Budget 2025-2026 The Budget for 2025-2026, presented by Finance Minister Nirmala Sitharaman, underscores India's commitment to fostering inclusive growth, enhanc...

Growing Food Inflation in India – How Bad Is It?

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Food inflation refers to the rising prices of food commodities over time, significantly impacting household consumption, savings, and economic stability. In India, food inflation has become a p...

Supreme Court Defines Federal Balance in Mineral Taxation: Landmark Ruling in...

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Case Overview The case Mineral Area Development Authority & Anr. v. Steel Authority of India & Anr. (2024) not only decisively sets forth an outward interpretation of the Indian Consti...

Goods and Services Tax's Affect on Indian Restaurants and Food Service Busine...

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Introduction to Goods and Services Tax (GST) And its implementation in IndiaGST's installation in India resulted in a substantial change to the country's tax structure, necessitating that compani...

The Indian Tax System: Principles, Evolution, and Contemporary Challenges

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This comprehensive analysis examines India's taxation system, focusing on its fundamental principles, legal framework, and administrative mechanisms under the Income Tax Act, 1961. The study ex...

Taxation of Former Indian Residents: Legal Gaps and the Need for a Framework

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The Decocture of Taxation from an Erstwhile Resident of India upon him vacating the Country and becoming a Non-Resident : Scrutinizing the Existing Legal Stature & Need of a Conclusive Fram...

The Necessity of Inheritance Tax in India: A Re-examination of the Policy Dis...

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The inheritance tax, which was earlier known as estate duty in India, was abolished in 1985. Whether or not to revive the tax remains a contentious policy debate today. This paper examines the ...

The Coinage Act, 2011, and Its Implications on Legal Tender and Coin Transact...

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The concept of legal tender forms the backbone of monetary transactions, enabling the seamless exchange of goods and services. However, the Indian legal framework, specifically The Coinage Act,...

Understanding CGST Fraud: A Growing Concern in India's Tax System

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The introduction of the Goods and Services Tax (GST) in India was a landmark step towards simplifying the country's indirect taxation system. Launched in July 2017, the GST aimed to streamline ...

TAN Correction Online v.s Offline: Which Method is Better?

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Tax Deduction and Collection Account Number (TAN) are critical for corporations and professionals handling TDS (Tax Deducted at Source). However, errors in TAN info can lead to compliance issue...

Penalties for Non-Compliance with Section 206C of the Income Tax Act: Avoidin...

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Introduction to Section 206C of the Income Tax ActSection 206C of the Income Tax Act requires sellers to acquire Tax Collected at Source (TCS) on detailed items, including alcohol, timber, minera...

General Features of the Banking Regulation Act, 1949

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The Banking Regulation Act, 1949 is a cornerstone of India’s banking laws, providing a robust regulatory framework aimed at maintaining the stability and integrity of the banking system. The ...

Common Mistakes to Avoid When Filing ESC Nil Return

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Filing an ESIC Nil Return is a vital compliance requirement for employers beneath the Employees' State Insurance Corporation (ESIC) Act in India. This go back is filed when there are not any pe...

Supreme Court's Landmark Verdict in Safari Retreats Case: A Ray of Hope for D...

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On October 3, 2024, the Supreme Court issued its ultimate ruling in the matter of Safari Retreats Private Limited. In addition to developers building malls, other industry participants building...

How Digitalization is Simplifying Nil TDS Return Filing in India

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In the evolving landscape of taxation in India, digitalization has changed the way businesses and people manipulate tax-related obligations. One such location that has visible huge development ...

The Role of Section 10AA of the Income Tax Act in Promoting Sustainable Growt...

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India's Special Economic Zones (SEZs) have become a key driver of monetary development by using fostering export boom, creating jobs, and attracting overseas investment. Among the several incen...

Tax Evasion And Tax Avoidance: Impact On Indian Economy

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This Research paper provides a background to understand the impact of tax avoidance and tax evasion in India. As we all know, tax evasion is the intentional non-payment of taxes by taxpayers, w...

Understanding the 7th Pay Commission Matrix Table: A Complete Guide for Gover...

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The 7th Pay Commission introduced a transformative change in the salary structure of central government employees in India. Implemented in 2016, this pay matrix has streamlined the pay scale ac...

GST for Small Businesses: A Complete Guide to Registration, Compliance, and B...

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Dive into our guide on understanding and complying with India's Goods and Services Tax (GST), emphasizing its impact, registration process, rate slabs, compliance requirements, and the benefits...

An Analysis of Residential Status of an Assessee

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An individual's tax liability in India is determined by whether or not he resides in the country during any given fiscal year. The Indian income tax regulations are the source of the term" resi...

Fiscal Autonomy: Understanding States' Rights On Mineral Tax Royalty

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In a federal system, there are two levels of authority, each with its autonomy. A federal system splits power between these two levels as outlined by the constitution, enabling each to operate ...

NRI Taxation: A Comprehensive Guide to NRI Taxation Services

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As globalization continues to blur geographical boundaries, more and more Indians are living and working abroad. With the number of Non-Resident Indians (NRIs) growing, the complexities surroun...

Impact of Karta's Death on Family-Run Partnerships: Analysis of Commissioner ...

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Petitioner: Commissioner of Income-Tax, Madhya Pradesh, Nagpur v/s Respondent: Seth Govindram Sugar Mills Ltd. Date of Judgment: March 26, 1965 Bench: Justice K. Subba Rao, Justice J.C. Shah, J...

The GST Conundrum: Navigating Impact of New Tax Regime on Education Sector

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The indirect tax regime in India, changed after July 1, 2017 with the introduction of Goods and Services Tax (GST), which subsumed multiple taxes at both state and central level into a single s...

The Recent Changes in Tax Law: Budget 2024

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Finance Minister Ms. Nirmala Sitharaman made significant changes to the new income tax system in the Union Budget 2024. For the fiscal year 2024–2025, the income tax slabs were adjusted, and ...

Note:Income Tax Compliance Due dates-July 2024

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The important due dates and deadlines for compliance-related tasks that a company or organization must complete are outlined in a compliance calendar. It helps reduce the risk of non-compliance...

C.I.T. vs. D.S. Promoters And Developers (P) Ltd [25 DTR 8 (Del.)]: An Analysis

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Facts Of The Case: This appeal, filed under Section 260A of the Income Tax Act, 1961, challenges the concurrent decisions of the Commissioner of Income Tax (Appeals) [CIT(A)] and the...

Ethics and Legality of Tax Avoidance In India

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The problem is that these tax payers are merely dreaming if not bluffing in their approach to sourcing the money to pay taxes. However, their sentiments are nonetheless of keen interest and rep...

How to determine that an Individual is NRI

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A Non-resident Indian (NRI) is an individual who holds Indian citizenship or is of Indian origin but does not reside in India. To determine whether someone is an NRI, their residential status m...

Legality of Income Tax Department's Claim to Currency Notes Seized by Police

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The crux of the issue lies in determining the rightful custodian of currency seized by the police from individuals during investigations. The question arises whether the Income Tax Department c...

Double Taxation: Understanding Its Impact and Relief Measures

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Double taxation is a situation where an income is subject to tax twice which can happen in many ways. This can occur in one of two ways - economic or juridical. Economic double taxation occur...

Income Tax Notice-Online Verification and Authentication

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A formal notification from the tax authorities about a person's or entity's tax matters is an income tax notice. These notifications are issued by the Income Tax Department (ITD) and may be in ...

Taxation: A Friendly Guide to What They Are and How They Work

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Define The Term Tax, Meaning And Essential Of Taxes Explain The Nature And Characteristic Of Tax: Different Types Of Taxes And Distinguish It From Fees And Cess. Introduction Taxation is th...

Implications Of The 28% GST Imposition On Online Gaming In India: Post-Trimes...

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Last year, the Indian Parliament imposed a 28% Goods and Services Tax (GST) on online gaming. The umbrella term of 'online gaming' includes online games, horse racing, and casinos. This decisio...

Conundrum Surrounding GST On Online Gaming In India

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Lumikai (an Indian gaming venture fund), in its recently released report, has lowered revenue forecast for the domestic online gaming industry. The report projects the industry to achieve USD 7...

Require Active Influence In Offence: Penalty Under 122

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Shantanu Sanjay Hundekari, Vikas Agarwal, Yogesh Agarwal, Mamta Gupta v/s Union Of India, Through Secretary, Ministry Of Finance, New Delhi., State Of Maharashtra, Joint Director, Director Gene...

National Tax Tribunal under National Tax Tribunal Act, 2005

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In the year 2017 Prime Minister of India announced the news of new tax laws, Goods and Service Tax (GST). The idea was more criticised. The research paper main focus is National Tax Tribunal un...

Department Is Not Bound To Give ITC Benefit To Buyer Merely Because Suppliers...

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The High Court has ruled that the Department is not obligated to provide ITC benefits to the buyer simply because the suppliers were registered at the time of the transaction. The court note...

An Examination of the Indian Tax System

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Evolution of Indian Tax StructureSince gaining independence, India's tax structure has undergone continuous transformation. Numerous committees have been formed over the years to propose necess...

Application Of Tax On Maintenance And Alimony

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Alimony and Maintenance under personal lawsAlimony and maintenance refer to financial support provided by one spouse to another following a separation or divorce. These are crucial concepts in fa...

Income Tax Laws of India: A Comprehensive Review of Shortcomings

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To create a comprehensive analysis of the deficiencies in India's income tax laws, a thorough examination of various aspects is required, including legal frameworks, enforcement mechanisms, com...

Who Is The Regulatory Body Of GIFT City In India?

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GIFT City, located in Gujarat, India, is a growing financial hub that is attracting global businesses, investors, and professionals. As India's first smart city under the Special Economic Zone ...

What Is New In The Interim Union Budget 2024-25 Ahead Of General Elections?

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As the General elections to elect the members of 18th Lok Sabha is scheduled to take place from April 19 to June 1, with the ruling alliance of NDA all set to go up against the newly formed I.N...

Taxation on Lottery And Gambling

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Citation: Skill Lotto Solutions (P) Ltd. v. Union of India, (2021) 15 SCC 667 Statutes: Sale of Goods Act, 1930, Constitution of India, 1950, Central Goods and Services Tax Act, 2017. Transfer...

Tax Season in India: Gross Total Income and Section 80 Deductions

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The Indian Income Tax Act, 1961, lays the foundation for the nation's tax system. It defines the types of income subject to tax and offers various deductions to lessen the tax burden on individ...

Beyond Tax Rates: Decoding the Legal and Corporate Aspects of India’s ...

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While tax rates are a widely discussed aspect of India's business landscape, the true impact extends far beyond. This abstract shed light on the legal and corporate underpinnings of the Indian ...

Assessing The Constitutionality Of Section 24 Of PMLA: Allocating The Burden ...

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According to Section 24 of the Prevention of Money Laundering Act, 2002, the responsibility of proving the source of proceeds of crime falls on the accused. In cases where an individual is char...

Relationship Between Incidence Of Tax And Residential Status

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Relationship between Incidence of Tax and Residential Status Incidence of Tax or Income Tax depends on the residential status and also on place and time of accrue and receipt of income. Deter...

The Fundamental Principle: No Tax Without Legal Authority

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Article 265 of the Indian Constitution states that no tax shall be levied or collected except by authority of law[1]. The authority of law, Law to be valid, tax, levy and collection are the pri...

Partnership Company ITR Filing: All you need to know

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All partnership firms are required to file income tax either manually or digitally. Income tax for a company can be validated with a digital signature or Electronic Verification Code (EVC). Whe...

What Are The Ways To Reduce Your Income Tax?

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People are always looking for ways to pay less income tax and there are numerous ways to accomplish this. Everyone wants to save more money and build a strong financial future that can support ...

Adam Smith's Limited Support for Public Works: A Contemporary View from India

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Eamonn Butler highlights the nuanced perspective of Adam Smith on public expenditure, emphasizing its limitation to essential projects for commerce, such as infrastructure and education. Smith ...

Tax Relief And Tax Planning Efficiency Of Double Taxation Avoidance Agreements

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When it comes to international taxes, including cross-border investments, the elimination of double taxation has become a crucial factor to take into account when conducting business both in In...

Union of India v/s M/S Mohit Minerals Pvt.Ltd And the Constitutional Dynamics...

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The Goods and Services Tax seems to be a fairly recent concept and this has been the start of a new chapter along the lines of taxation. The complex structure of taxation was replaced by the co...

Union of India v/s M/S Mohit Minerals Pvt. Ltd: A Comprehensive Analysis of t...

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The Hon'ble Supreme Court of India rendered about 1263 judgments in the year 2022 which is approximately double the number of judgments rendered in the previous year. With these many cases one ...

What Is Money Laundering With Example And Cases In Simple Terms?

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Money laundering is a process through which individuals or entities disguise the origins of illegally obtained funds, making them appear to come from legitimate sources. This complex financial ...

All You Need To About Form 15CA and Form 15CB

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In the course of business, it happens that many payments are made outside India. When payments are made outside India, there are certain compliances that need to be followed and tax deduction i...

Treatment Of Royalty Income Under India-US DTAA

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The article provides an in-depth analysis of how royalty income is treated under the India-US Double Taxation Avoidance Agreement (DTAA). It discusses the objective of DTAAs, their benefits, an...

Deductions Under Section 80 Of Income Tax Act 1961

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"Section 80: Where tax savings become a roadmap to financial freedom."... Vishal Banga Introduction Taxation in India involves various provisions aimed at reducing the burden on taxpayers. Am...

Tax Haven: An International Obligation

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Revenue earned through taxes keeps an economy buoyant. Therefore, a tax payers' honesty towards paying off legitimate tax amounts is salient. But several affluent and well-linked people with th...

Legal Dimensions Unveiled: Navigating the depths of Input Tax Credit (ITC) in...

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"In the realm of GST artful dance, Legal strides and ITC enhances. Compliance waltzes, strategy's chance a fiscal ballet, in law's advance." Embarking on a business venture involves more than ...

Design and Enforcement of Personal Income Tax in India

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The Indian tax structure has evolved over time to accommodate the government's expanding financial needs. The method is also intended to aid in the govt's achievement of its socioeconomic objec...

Taxing Statutes - Interpretation

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Introduction For raising its general revenue Tax is imposed by the State. Taxing statutes are those which impose taxes on income or other kind of transactions. Enforced by the government, Taxi...

GST: A Brief Overview

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India being a federal country where both the centre and states have been assigned powers to levy and collect taxes through appropriate legislations. Both the levels of government have distinct ...

All You Need To Know About Form 10BD

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In the realm of income tax laws, both donors and recipients play crucial roles in ensuring compliance and transparency. To facilitate this process, the Income Tax Act introduces Form 10BD, a do...

Article On Detailed Analysis On Section 70 Of CGST Act, 2017

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Section 70 of The Central Goods and Services Tax Act, 2017 Section 70. Power to Summon persons to give evidence and produce documents The proper officer under this Act shall have power to sum...

The Hidden Risks: Why Tax Due Diligence is Vital in M&A

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"What we hope ever to do with ease, we must first learn to do with diligence."-- Samuel Johnson Introduction In the intricate world of mergers and acquisitions (M&A), the prudent manageme...

Navigating Cryptocurrencies in India: Legislation, Taxation, and the Path For...

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Cryptocurrencies and virtual assets are the new generation's assets and payment modes. The concept of cryptocurrency took its boom after the sudden rally of Bitcoin in 2009. The rapid growth of...

Tax Compliance for Nonprofit Organizations: Ensuring Transparency and Exemption

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Nonprofit organizations play a vital role in society by addressing social, educational, and humanitarian needs. To maintain their tax-exempt status and effectively carry out their missions, non...

Income Escaping Assessment: The Old vs New Regime Procedural Changes and Crit...

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Under the old provisions, prior to the amendment, Section 147 of the Income Tax Act authorized the Assessing Officer to issue notices under Section 148 for reassessment of income that had escap...

Saga Of Amended Reassessment Provisions And Legality Of Notices Issued Under ...

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The Income Tax Act, 1961, specifically in Chapter XIV, titled "Procedure for Assessment," governs the procedures for assessment and re-assessment of the return submitted by the a...

A Study On Crypto-Currencies And Crypto Taxation In India

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Investing in cryptocurrency is currently the hottest trend in the investment market globally. As they are decentralized, they are not controlled by the government or any other financial market....

Anticipatory Bail in GST Violation Offenses: Legal Implications and Judicial ...

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The implementation of the Goods and Services Tax (GST) in India has revolutionized the country's taxation system. However, it has also led to legal battles as individuals and businesses face al...

Need Of The Definition Of Word Building Under Income Tax Act

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This article delves into the controversies surrounding the interpretation of the term "building" and explores efforts to alleviate the confusion and provide clarity. In order to addre...

Taxability Of Agricultural Income: An Overview

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Agriculture, being the primary occupation and the only source of income for a large rural population in India, is one of the important subjects to be considered while levying tax under the taxa...

Reopening Of Assessment Under Taxation Law: Analyzing The Case Of Tumkur Mine...

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Taxation laws always seemed to have struggled on this aspect of reopening of completed assessment. Why so? Aren't the statutes enough for providing reasonable grounds for reopening or is it tha...

How The Tax Is Levied And Collected Under GST

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The Goods and Services Tax (GST) has been a significant reform in India's tax system, replacing many indirect taxes and creating a comprehensive value-added tax system. This paper focuses on ...

The Legal And Ethical Implications Of Tax Avoidance And Evasion In Laws And P...

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Although they are sometimes equated, tax avoidance and evasion are distinct in many respects. Tax evasion is the use of illegal methods to evade paying taxes, whereas tax avoidance uses legal...

Tax on Capital Gains

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What Is A Capital Asset?A capital asset is an asset that is anticipated to be owned by a firm or individual for a lengthy period of time, generally more than a year and is utilised for income g...

A Comparative Analysis Of India And China's GST Regime

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"You don't pay taxes they take taxes."-- Chris Rock The goods and services tax (GST), an indirect federal sales tax, is charged on the price of various goods and services. After the business h...

Tax Assessment of Partnership Firms

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What Is Firm And 'Association Firm' - Assessment Of FirmAssociation gets a similar significance as characterized in Section 4 of the Indian Partnership Act 1932. Partnership firm is burdened as a...

Vodafone Tax Case

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Under Tax Regime in India, every Assesses are liable to pay tax in respect of income arised or accrued outside India received by them irrespective of the Residential Status and place of accrual...

Exploring The Key Highlights And Implications Of The 2023 Indian Budget: Bala...

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The Indian budget of 2023 was presented on February 1st, 2023 by the Minister of Finance, Nirmala Sitharaman. This year's budget focused on the government's efforts to achieve a comprehensive a...

Concept of Diminishing Marginal Utility

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The law of diminishing marginal utility is an economic principle that states that as a person consumes more and more of a particular good or service, the additional satisfaction or utility they...

Why Salaried Individuals Should File Their Income Tax Returns?

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ITR filing is important for salaried individuals because it allows them to: Claim tax refunds: By filing ITR, salaried individuals can claim any tax refunds that they may be entitled to. Thi...

Tax Distribution In India

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There have been many conflicts with regard that whether India is a federal state of not. But, when we see about the characteristics of federal state then we find that one of the characteristics...

Finance Commission Of India

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The Finance Commission of India is a constitutional body that has survived for over 50 years on Indian soil. Formed under Article 280 of the Indian Constitution, the Finance Commission of India...

A Brief Study on: Tax Laws in India

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The system of taxation is the backbone of a nation's economy which keeps revenue consistent, manages growth in the economy, and fuels its industrial activity. India's three-tier federal structu...

Principles Of Income And The Understanding Of Income Under The Head Of Income...

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Many of us dream of building our own house. But unfortunately, the property prices are so high that few people can afford to own a home without having to take out a loan. There are several bank...

Understanding Of Finance Commission And Its Constitution

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The Finance Commission of India is a constitutional body that has survived for over 50 years on Indian soil. Formed under Article 280 of the Indian Constitution, the Finance Commission of India...

Construction of Taxing Statutes and Evasion of Statutes

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Government of India is divided into three branches i.e. Legislature, Executive and Judiciary. It is the function of the legislature to make the laws and that of the executive, to enforce those ...

Double Tax Avoidance Agreement

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What exactly is DTAA?Double taxation is the practise of taxing the same income or subject-matter twice, for the same purpose, over the same time period, and in the same tax jurisdiction. When s...

Penalty For Non-Payment Of Custom

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Customs law is a duty or tax which is levied by the Central Government on import of goods into and export of goods from India. Quantum of Customs duty depends upon the provisions of Customs Ac...

The Concept Of Capital Gains And The Concept Of Set-Off Carry Forward Under T...

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Capital gains arise from the sale of assets other than those held in the ordinary conduct of business. In India, capital gains tax is levied within the framework of Indian Income Tax Act, 1961....

The Concept of Capital Gains and The Concept of Set-off carry forward under t...

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Capital gains arise from the sale of assets other than those held in the ordinary conduct of business. In India, capital gains tax is levied within the framework of Indian Income Tax Act, 1961....

What is Advance Tax?

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Advance TaxAdvance Tax means that you are required to pay taxes to the government on your income throughout the year as you want this income. Who is it applicable for?If a financial total tax...

Is Taxation Gender Biased?

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The significance of taxation and gender parity is generally acknowledged. However, they have rarely been mentioned together. It is critical to perceive that for there to be practical financial ...

Explained: Government abolishment of Retrospective Tax

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First, let us know what is "Retrospective Tax": In terms of taxation, retrospective tax means giving effect to the amendment in the present law before the date on which the changes were brought ...

Introduction To GST: A New Era Of Taxation In India

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As stated by Benjamin Franklin in 1789 "nothing is certain except death and taxes" this statement still holds its value in 21st century also because we can never find any country or state with...

Leave Travel Concession: Salaried Employees Can't Avoid TDS If The Itinerary ...

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Leave Travel Concession: Salaried employees can't avoid TDS if the itinerary includes a foreign trip LTC can be claimed only for travel within India as the very purpose of this provision is...

Why Is It Important For Start-Ups To Get DPIIT Recognition

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A start-up is a new business or company. Startups are basically formed by one or more business/company owners who want to provide a good service for which they believe there is a market. Commit...

Ownership Structure And Tax Evasion

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Ownership Structure: "Ownership structure deals with the internal structure of a corporate entity as well as the rights and obligations of the people who have a legal or equitable stake in tha...

Tax Avoidance

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The tax which is collected by the government is one of the important sources of its revenue. It is spent for the administration of the governmentand for public welfare. It is in this view, tax ...

Residential Status

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Tax incidence on an assesee depends upon his residential status. For instance, whether an income, accrued to an individual outside India is taxable in India. Likewise whether income earned by a...

A Complete Overview Of Income Taxation In India

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Income taxation is widely considered to be one of the most important sources of income for the government through which it fulfils various projects and initiatives and is vital for the country'...

MNRE:Imposed The Basic Customs Duty On Import Of Solar PV Cells AndModules An...

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MNRE, with effect from 1st April, 2022, imposed 25% Basic Customs Duty (BCD) on import of solar PV cells and 40% on solar PV modules. Also, the GST rates for specified renewable devices and man...

Income Tax Officer vs M/S.Seth Brothers: IRAC Analysis

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Issue Whether, under the Indian lncome Tax Act (43 of 1961), in the course of following an order of search and seizure made by the Commissioner Of Income Tax, for the purpose of obtaining book...

Case Summary of Raja Benoy Kumar Sahas Roy v/s C.I.T

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Raja Benoy Kumar Sahas Roy V/S C.I.T Issue Raised: Whether the income arrived comes under the definition of "Agricultural Income" or not? Petitioner: The Commissioner Of Income-Tax, We...

Summary Of Case Raja Benoy Sahas Roy v/s C.I.T

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Facts of the case: Here Respondent owns 6000 acres of forest of sal and piyasal trees. The forest was of spontaneous growth and it was 150 years old. Respondent used to sell those trees and...

GST Returns: How And When To File Them

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Goods and Services Tax (GST) as introduced in 2017 has the objective to fulfil the notion of One Nation One Tax One Market. It is a form of indirect tax which combined nearly all the taxes levi...

GST And Recent Development In Exemption Under GST

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Goods & Services Tax is a form of Indirect tax which is mainly levied by the government on goods and services being provided and not on the income, profit or revenue of a person. Under GST ...

Case Analysis Of R.K. Jain v/s. Union Of India 1993 Air 1769

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This is a case analysis of a renowned case, R.K. Jain Vs Union of India & Ors. (1993), which was a Writ Petition in the form of a P.I.L. The case has been summarized and analyzed under the ...

Case Analysis On: ITC LTD v/s Agricultural Produce Market Committee And The M...

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The main significance in the present case is that this case involved a controversy between the working of two Acts: The Tobacco Board Act of 1975, enacted by the Parliament, and the Bihar Agric...

NFT's And Its Current Scenario In India

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There's nothing like an explosion of blockchain news to leave you wondering what the NFT's What are NFTs? What does it stand for? NFTs are non-fungible tokens that we can use to represent own...

Assessment and Taxation of HUF

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Under section 2(31) of the Income-tax act, 1961 Hindu Undivided Family (HUF) is treated as a 'person'. A Hindu Undivided Family is assessed to income tax as a separate independent unit. The mea...

GST on Food Service

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GST on Food and Restaurants:Good and Services Tax on food services items in India can be 5%,12% or 18%. Its depends upon the location of the restaurant and its establishment type, location and ...

Case Analayis: CST v/s Sai Publication Fund

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Trusts which are formed for the "advancement of any object of public utility" are recognised in India as charitable trusts and they are exempted from making payment of taxes. They're ...

Taxation v/s Cross Border Mergers

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With the intent of attracting foreign investors, the Indian government has always responded by liberalising domestic regulations and attempting to mitigate potential conflicts in the phase of m...

Input Tax Credit: How To Claim It Under GST?

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Since GST has been discussed across the country, the input tax credit is also discussed at same level. In essence, ITC is very important part of GST. One of the main reasons, why GST is good fo...

GST Impact On Women

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Taxes are the lifeblood of government and no taxpayer should be permitted to escape the payment of his just share of the burden of contributing thereto. ...

Sources of International Tax Law

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International trade has existed from the most ancient civilization of the world like Harappan, Mesopotamia, Egyptian and Roman civilizations. However, the volume of international trade was not...

Transfer Pricing Aspects Of Business Restructuring

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It is highly essential for multinational enterprises to come up with different workable business strategies to compete in today's economy. One such strategy is business restructuring. Business ...

Haryana Property Tax Conundrum: A Travesty Of Natural Justice And Right To Eq...

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Property tax in Haryana is governed by Urban Local Bodies Act 1994 as amended in Oct 2012 and Oct 2013 Govt Notification. The 1994 Act was drafted when standalone properties such as bungalows',...

Critical Analysis Of Baseball Arbitration From The Perspective Of Resolving T...

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History Of Baseball Arbitration Arbitration and specifically Last Best Offer Arbitration, has historically been used to resolve disputes between unions and management and is best known for res...

All About Tax Law In India

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Environment an integral part of the eco system or can say that that one of the best creations of universe. Existence of environment is from eternal time but its future is in our hands. How love...

Transfer Pricing Of Intangibles Practices: A Comparative Analysis Of India An...

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Transfer pricing transaction in a MNE is done to reduce tax burden and improve profits of the enterprise. It is usually done by utilizing the complex economic to their advantage globally. A MNE...

Advance Pricing Agreement

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Advanced pricing agreement is an agreement between one or more tax authorities and one or more taxpayers specifying transfer pricing methodology for pricing the tapers transaction in the future...

Work from Home: A Convenient Way of Saving Taxes

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Tax planning as the word suggests, is a smart way of saving your taxes by incorporating the relevant expenditures to your book of accounts and getting tax benefits out of such planning . It is ...

Challenges in Implementation of GST

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The Modified Value Added Tax (MODVAT) was adopted in 1986 during Rajiv Gandhi's government, and it marked the beginning of India's indirect tax reform. Following this, Prime Minister Manmohan S...

Digital Tax Introduced In India For E-Commerce Operators

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In the course of the most recent five years, India has been forcefully pushing for expansion in advanced exchanges and the public authority has no goal to deter computerized business. The finan...

A Study On Goods And Services Tax (GST)

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Goods and Services Tax is an indirect tax which is imposed in India to upgrade and support the monetary development of the country. The vast majority of the Developed nations have executed Good...

Stability Assessment Of Indian Economy After The Introduction Of GST Regime

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The realistic and possible rates at which the new regime can be implemented is one of the most contentious questions in the talks around the goods and services tax. Several attempts have been m...

Don't Tax Your Income, Tax Your Consumption

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The taxation system in India is such that the taxes are levied by the Central Government and the State Governments. Some minor taxes are also levied by the local authorities such as the Municip...

Critical Analysis Of Section 68 Of Income Tax Act, 1961

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Why Section 68 was introduced under Income Tax Act, 1961 There was a great need and importance for introducing the provisions of section 68 under the income tax act, 1961 to safeguard and protec...

GST Consultant

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Why hiring a Tax Consultant?If you're looking for a Tax Consultant, you can count on Taxcom for high-quality and professional services. For both Indian and foreign companies having businesses ...

Virtual Digital Assets: Opening New Gates For Transaction And Trading

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Mankind's constant growth has made him proficient at understanding his surroundings and putting them to better use for future inventions. The same tendency has been observed in the evolution of...

How Is Technology Influencing Various Dimensions Of The Taxation Process

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The tax landscape has been changing drastically together with tax payers and tax authorities looking ahead for more technological advancement and innovation in the field of taxation system whic...

FDI Regulation In India

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Foreign investment has poured into India due to policies pursued and executed by successive governments and free trade. The government's liberalization policy results in a smooth integration wi...

Critically Analysing Section 14-A of Income Tax act,1961

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South Indian Bank Limited v/s Commissioner Of Income Tax was recently resolved by a Supreme Court of India, double bench comprising of Sanjay Kishan Kaul and Hrishikesh Roy, JJ. on September 9t...

The Muddle Of Taxation In Regulating Cryptocurrency In India

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In the Indian context, a market far from ripe for cryptocurrencies, is just as unpredictable as its legal framework is. The same uncertainty carries forward to the tax statutes that are suppose...

Comment on the Finance Act, 2021

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This paper will serve as a brief comment on the Finance Act, 2021 focusing on the effect of the various tax schemes on the corporate sector. As indicated by the Finance Minister in her speech o...

Understanding Indian Taxation on Film Industry before GST

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The press and electronic media derive their rights from the freedom of speech and expression available to the ordinary citizen under Article 19(1)(a) of the Constitution. The media enjoys no hi...

Detail Analysis Of Tax Provision In The Time Of Demerger

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A demerger is a type of corporate reorganisation in which an organisation splits off a portion of its operations into a separate corporation. For a variety of reasons, an organisation may decid...

Case Analysis: Harshad Mehta vs Custodian, 1998

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Case Background It was in June 1992 that a massive income tax raid was conducted at the numerous premises of Harshad Mehta and family. Tonnes of shares, securities, books of account and docu...

Charitable Institutions Be Taxed Or Not?

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charitable institution means a public or private nonprofit, tax-exempt entity organised for charitable or public welfare purpose. These organisation depends on partly on donations and part...

Transferee Acquiring A Business As A Going Concern, Liable To Pay Income Tax ...

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Acquisition of business involves the acquisition of inherent tax exposure of the target company or business so acquired pertaining to the period prior to such acquisition. A question that arise...

A Policy Framework To Prevent Abuse Of Tax Exemption On Agricultural Income

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Agriculture has been the bread-earner for a major chunk of the Indian population, however citing the pitiful conditions of farmers under British Rule, the lawmakers decided to not tax their inc...

GST Registration

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GSTGST is the biggest tax reform of the Country that subsumed various taxes in a single tax. With the introduction of GST the cascading effect has been abolished. It is an indirect nature tax a...

Section 80 EE and Section 80EEA Tax Deduction

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Section 80EESection 80EE - Deduction on Home Loan Interest Tax deduction under Section 80EE of the Income Tax Act 1961, can be claimed by first-time home buyers for the amount they pay as intere...

National Pension System explained along with tax calculation example.

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The National Pension System (NPS) is a contributive pension system in which subscriber contributions are collected and accumulated in the employee's individual pension account along with matchi...

E-Invoicing under GST Law: Impact on Economy

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Taxation is one of the most important source of revenue for the government of any Country. Tax System in India can trace its origin since the ancient times in prehistoric texts such as Manusmri...

Law of Taxation and Constitution

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This article aims to give a review about Law of Taxation and Constitution. Introduction The constitution has supreme power it sets the structure that democrates political code, fundamental...

Tax Evasion

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Tax is a common contribution towards the government according to everybody's ability to pay for raising revenue that's for the benefit of society.The dictionary definition states that:A compuls...

Interpretation Of Tax Statutes

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Government of India is confined into three branches for example Legislature, Executive and Judiciary[1]. It is the constraint of the advisory group to make the laws and that of the pioneer, to ke...

How India can improve its GST laws by comparing it with Singapore

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Being the Biggest assessment change in India, GST will permit the genuine GDP development of the Indian economy to hit 6.75 percent in this financial year with desires for 7 to 7.5 percent genu...

Extension Of Time Limit Under Certain Compliances Specified In Income Tax Act...

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Facts: Amendment in Section 10AA through the notification No.35 /2020 dated June 24, 2020, issued by CBDT and along with the gazette notification dated 29th September 2020, by The Ministry Of ...

Equalization Levy And It's Changing Trend As To Budget 2021

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Equalization Levy: Meaning The income tax law imposes levies based on place of residence of the taxpayers and /or their source of income, such laws were originally conceptualized with brick-mo...

Analyzing The Tax Structure In India

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Tax is not a quid pro quo, it is a compulsory levy by the government that is to be paid by the people and resultantly helps in the overall development of the country. the historical background ...

overview of taxation system in India

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India has a well-developed tax formation with acutely demarcated authority between Central and State Governments and local bodies. Central Government levies some direct and indirect taxes on pe...

What is Forex Trading and the legal side of the same in India?

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Starting from the root, we will begin with the discussion of which are the basic elements in Forex Trading that are mentioned in the Foreign Exchange Management Act, 1999.Regulation And Managem...

Tax Pertaining On Capital Gains From Stocks In One Financial Year

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Capital gain from stocks is not taxable unless the net annual income of the financial year is more than 2.5 lakhs. Speaking of the taxes pertained if the annual income is more than 2.5 lakhs are:...

Article on Bury the Ghost of Ex-Post Taxation

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In the Wealth of Nations' published in 1776, Adam Smith postulated four canons of taxation; Equity, Certainty, Convenience and Efficiency. There is consensus regarding ce...

Trademark Class 2: Paints, varnishes, lacquers, Dyes, colorants, pigments and...

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Products and services are classified by IPindia.gov.in according to specific categories (also called Classes). Trademarks have to be applied or registered under such class or classes as may be ...

Universal Basic Income: A Weapon for the People

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The World Wide Debate:Universal basic income is being debated over not only in the develop countries but also in the developing countries despite the differences in the economic backgrounds and...

Constitution-When Does A Tax Liability Arise? An Analysis Of Various Ratios L...

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When Does A Tax Liability Accrue? Article 265 of the Constitution of India provides that no tax shall be levied or collected except by the authority of law. Such tax does not depend upon an as...

Faceless Assessment And Appeals Under The Income Tax Law

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The Finance Minister had proposed the introduction of a scheme of faceless e-assessment in her budget scheme on the 5th of July, 2019 which was subsequently inaugurated on the 7th of October, 2...

Do Stamp Papers have an Expiry Date?

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Stamp Duty refers to the duty levied by the State for the purpose of registering a document. Under the Constitution of India, Article 246, Schedule 7[1], Stamp Duty is a Union as well as a Stat...

42nd GST Council meeting outcome : Key highlights dated 5th October, 2020

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The 42nd GST Council met under the Chairmanship of Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman via video conferencing today i.e. 05th day of October, 2020 via video c...

A Case Study Of Vodafone International Holding v/s Union Of India

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The landmark judgement was made by the Supreme Court of India in Vodafone International Holding (VIH) v. Union of India (UOI). In the transaction dated 11.2.2007 between VIH and Hutchinson Tele...

It's Centre's Force Majeure on GST compensation says Gautam Khaitan

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Recently, the Centre described the pandemic as an act of God and abandoned the states to bridge up GST compensation shortfalls via borrowings. Eminent Lawyer and Managing Partner of OP Khaitan ...

Tax Evasion and Controlling Tax Evasion by Indians

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Given the explosion in this work, a natural question to ask now is: what do we really know about tax evasion? In this article, I give my own answer to this broad question, by answering several ...

The Concept of Tax Evasion and its Impact on National Economy

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We often come across this kind of terms on our daily basis we hear about them in news and in newspapers, that this person committed tax evasion or our national economy dropped due to tax evasio...

Case study: Poppatlal Shah v/s State of Madras

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Poppatlal Shah v State of Madras - 1953 AIR 274 Interpretation of statutes is a vast area which basically means that statue be interpreted in such a way that it provides justice to the parties...

Gambling And Its Related Legislation

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The topic which is going to be discussed here in this project carries a certain and specified history in itself. Since the Vedic period or before, its influence has been seen time to time in diff...

Investment in India vis-a-vis International Taxation

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This article begins with exploring the routes of foreign investment in India. There are primarily two ways. These are the automatic and approval route. Foreign Direct Investment is one of the mos...

Recommendation of GST Council related to Law and Procedure

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As we all know that due to this pandemic i.e. Covid-19, a lots of businesses, services, facilities got affected. The finances of individuals, states, Union Territories and whole of our country go...

Analysis of AAR Decisions of State of Haryana

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The ruling of any advance ruling authority under GST is nothing but the interpretation of GST law. If an individual seeks clarity on any provision of GST, he can make an application before the au...

An Outlook Of Vivad Se Vishwas Bill

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Finance Minister Nirmala Sitharaman on Wednesday presented a bill in Lok Sabha which seeks to provide for resolution of disputed tax including Rs 9.32 lakh crore. Presenting the Direct Tax Viva...

Best Judgement Assessment: An Adherence to the principles of Natural Justice

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Assessment Assessment in the common parlance means the determination of the value of the assets which has been held by the person for deciding the quantum of tax he is going to be liable to pay. ...

7 Faq's On ECR Filing And Payment Of Contributions

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Employees' Provident Fund Organization, India Ministry of Labour and Employment, Government of India has issued FREQUENTLY ASKED QUESTIONS: ECR FILING AND PAYMENT OF CONTRIBUTIONS dated 03rd May,...

Addition Made Under Section 144 Is Invalid When The Penalty Proceedings Stand...

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The Supreme Court in Civil Appeal No. 6110 of 2009 titled Basir Ahmed Sisodiya Vs Income Tax Officer, held that that the addition under Section 68 of the Income Tax Act, 1961 is needed to be quas...

GSTN Alert To Taxpayers On Fake Messages On GST Refund

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GSTN has issued an alert notification dated 03rd May. 2020 to Taxpayers on fake messages on GST Refund and to Safeguard Taxpayers from fake messages on GST Refunds BEWARE of FRAUD It is try...

24 Faq's On Scope / Eligibility Of Direct Tax Vivad Se Vishwas Act, 2020

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Government of India, Ministry of Finance, Department of Revenue, Central Board of Direct Taxes vide Circular No. 9/2020, F. No. IT(A)/1/2020-TPL, dated 22nd April, 2020 has issued Clarifications ...

Implementation of Value Added Tax In India: Advantages And Disadvantages

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Value-added tax, popularly known as VAT, belongs to the family of sales taxes. A general sales tax and turnover tax can be compared with value-added tax. A general sales tax is a tax on sales tra...

Constitutional Provisions Regarding Taxation

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Even though the customs act 1962 regulates the duties and taxation, The Constitution of India provides for the provisions relating to the taxation. Article 265 to Article 289 deals with the const...

Significant Economic Presence In Explanation 2A of Section 9(1)(I) of The Inc...

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The ongoing deliberation around the taxation of the digital economy is the unanimity of the tax regime, especially the amendments with respect to Significant economic presence, needs to be re-eva...

Section: 115BAC – Incentives in Tax rates to Individual and HUF (Propo...

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In the Budget 2020 presented on 1st February 2020 by Finance Minister Smt. Nirmala Sitharaman. It has been proposed to provide option to individual and HUF by insertion of section 115BAC in the I...

How To Select Cases In Scrutiny And Need For The Same

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Why there is a need for scrutiny selection by the Income Tax Department?There was a great need and importance of scrutiny selection by department, as all the assesses who file their return do not ...

Section 115BAA: Tax on Income of Certain Domestic Companies

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Currently, most of the companies are operating at 75-80% capacity amidst slow consumer demand. The corporate tax rate cut is bound to raise the margins of manufacturers and they, in turn, can pas...

Income from House Property

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The annual value of the property of which the assessee is the owner is chargeable to Income Tax. It is imperative to note that the purpose of holding such property should not be business/professi...

Residential Status

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According to section-5, the incidence of tax depends upon, and is determined with reference to the residential status of an assessee in the previous year. The incidence of tax as mentioned in sec...

The Major Impact of Rule 36(4) of CGST Rules, 2017 on SME Sector

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So recently this new Rule 36(4) of CGST Rules, 2017 had inserted vide Notification No. 49/2019, which says that: Input tax credit to be availed by a registered person in respect of invoices or de...

Work Contracts Under GST Law: Is The 46th Constitutional Amendment In Consonance

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This article is pertaining to the developments under Indian law with regard to work contracts and its taxation aspects. It should be recorded here that the Seventh schedule of Constitution of Ind...

Taxation overview with respect to non-residents

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The tax structure in India is divided into direct and indirect taxes. While direct taxes are levied on taxable income earned by individuals and corporate entities, the burden to deposit taxes is ...

GST Annual Returns:-The Hue and Cry

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As per section 44 of the CGST act 2017, every registered person, except an Input Service Distributor, a person paying tax under section 51 or section 52, a casual taxable person and a non-residen...

Should India Start Taxing The Religious Institutions

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Despite possessing characteristics of being uncritical, irrational and heavily dogmatic, religions have played an undeniably crucial role in shaping the history of mankind. The faith and fear of ...

Settling the Issue of Domestic Double Taxation - State of Bombay v. United Mo...

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an appeal from the judgment and order of the High Court of Bombay, declaring the Bombay Sales Tax Act, 1952 as ultra vires the Constitution of India and consequently issuing a writ of mandamus ag...

Section 194-N: TDS on cash withdrawal exceeding INR 1 Crore

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Section 194-N: The ambitious mission of government of India to drive India towards a cashless economy was boosted with the announcement of demonetization on November 8, 2016. Since then, the Gove...

Understanding The Basic Meaning And Concept of Money Laundering

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What is illegal money? By the term illegal money we can understand the money which has been obtained from doing illegal activities ( proceeds of crime ) like Murder, Extortion, bribery, Drug traf...

Anti-Profiteering Under GST

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The historic Goods and Service Tax (GST) brought significant changes to India’s indirect tax system. Unlike other countries, the GST in India has a multi-tier tax structure. Any reductio...

GST: An Overview And Analysis

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The implementation of the Goods and Services Tax (GST) in India was a historical move, as it marked a diverse change in indirect tax system in the country. The amalgamation of a large number of t...

A Critical Analysis of Interim Budget, 2019 through the glasses of a Legal Ap...

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Anything which falls out of tune with the changing needs of the society, fails to co-exist for long. In this regard, the Union Budget of 2019 has attempted and brought about joy in the hearts of ...

GAFA Taxation System: An Introduction

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French Finance minister Bruno Le Maire had recently announced the introduction of a GAFA tax— named after Google, Apple, Facebook, Amazon—on large technology and internet companies ...

Tax laws in India

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Definition- Tax law is the practice of law that relates to the assessment and payment of taxes. Tax laws come from a variety of sources....They're based in federal and state constitutions, laws a...

TDS on immovable property u/s 194-IA of Income Tax Act,1961

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Before coming on the main article, let’s understand why there is a need of invoking such provisions of section 194-IA under income tax act, 1961. There is a great need and importance of in...

GST on Export of Services Abroad: Five Interesting Points

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Trade has been an important and sensitive issue all over the world even before World War II. After World War II world trade took a new shape like the adaptation of General Agreement on Tariffsâ...

Reverse Charge mechanism in GST

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In the recent times, After the GST implementation, there is so much of confusion over reverse charge mechanism of tax collection. Reverse charge means the liability to pay tax lies with the recip...

The grey aspects of input tax credit under GST regime

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Ever since the beginning of the system of input tax credit (be it MODVAT/ CENVAT credit under central excise/ service tax regime or ITC under GST regime), it has always been one of the biggest ...

Power to summon under the taxation laws including the new GST Act

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The tax officials often act as quasi-judicial authorities in disposing of taxation disputes between the taxpayer and the government. The resolution of disputes require keen investigation and acce...

Brief Study of Section 269ST of Income Tax Act, 1961

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In this article we will understand why section 269 ST is introduced and what is the need of invoking such provisions, Section 269ST was introduced by finance act, 2017 in Income tax act, 1961 by ...

Precautions to be taken while entering into a Real Estate Transaction

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In this article we will be discussing about the precautions to be take care while entering into a real estate transaction. Let us understand this article in the form of short story; There are...

Assessment of Partnership Firms under income tax act,1961

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In this article we will deal with the assessment of firms with one brief example,    First question is What is a partnership firm?  In entire income tax act,1961 partnership is not defined ...

Commissioner Appeals And Revisions Under Income Tax Act,1961

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The Constitution of India guarantees the citizens of the country certain fundamental rights. Therefore, under any system of rule of law , the right to appeal for redressal of one’s griev...

Scrutiny selection on the basis of AIR transactions under income tax act, 1961

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Scrutiny Selection on The Basis of Air (Sft) Information the era of fast changing technology and data analytics, Income Tax Department too empowered itself with one of the most enabling data-set...

Input tax Credit laundering and parallel economy in GST regime

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GST was thought to be the economic integration of the nation with the slogan of one nation one tax. The system of GST taxation has undergone a roller coaster ride since the day of its implement...

Start-Ups: Tax or No Tax?

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In last week, a controversy was again created when the Revenue Authorities sent notices to start-ups for their income earned from ‘share premium’ or the famous ‘angel taxâ...

GST on Petroleum, Natural Gases and Airline Turbinal Fuel

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Petroleum, Natural Gases And Airline Turbine Fuel. Whether Different Slabs of GST or Not? Since the rolling-out of GST an year and half ago, Petroleum, AFT and Natural Gases have been the topi...

Analysis of Atiabari Tea Co Ltd. v/s The State of Assam

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Analysis of Atiabari Tea Co., Ltd. v. The State of Assam And Others [AIR 1961 SC 232] The case relates to interpretation of Article 301 of the constitution. Article 301 enacts a general rule...

How banks can deal with the notice from Tax authorities in India

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Owing to increase in money laundering and tax evasion practices, banks are often served with the notices under section 133(6) and section 226(3) of the income tax act, 1961, by the tax authoritie...

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ISBN No: 978-81-928510-0-6