Category: Articles
Union Budget 2025 – Analysis of The Finance Bill, 2025
Personal Taxation i. Tax Rates Sl. No. Total income Rate of tax (1) (2) (3)…
Immunity under the Benami Transactions (Prohibition) Act
The Prohibition of Benami Property Transactions Act, 1988 (Benami Act) is a legislation that has…
The Scope of Concurrent Jurisdiction in the Income Tax Act
The provisions of Section 120 of the Income Tax Act state who are within the…
On Money paid not recorded in the books of account – Taxability in the hands of Buyer
Let us assume a scenario where an assessee purchases an asset being a capital asset…
Violation of Sections 40(a)(ia) / 40A(3) – Applicability on Capital Expenditure incurred by Charitable Trusts
The 3 rd explanation to section 11(1) specifies that the provisions of sections 40(a)(ia), 40A(3)…
Extension of Timelines for Making Application in Form No10A / 10AB
Through Circular No.7 of 2024 dated 25.04.2024 the Board with a view to avoid and…
Levy of Penalty – Difference between Undisclosed Income and Concealed Income
Section 271AAB Income Tax Act Section 271AAB Income Tax Act seeks to impose a tax…
Error and Prejudice in the order of TPO – Jurisdiction of PCCIT / CCIT / PCIT / CIT for invoking provisions u/s.263
Section 263 of the Income Tax Act, provides for revision of orders which areerroneous and…
Reinvestment in the name of spouse to claim exemption from capital gains – Whether allowable
Sections 54, 54B and 54F allow an assessee to claim exemption from capital gains on…
Filing of Objections before DRP – Intimation to Assessing Officer
Section 144C of the Act provides that where in case of an eligible assessee a…