Conclusion: Assessee was entitled to the exemption under Section 10A as ex-post facto approval granted by the RBI, the ...

Budget introduces significant amendments to the CGST Act, 2017. The definition of Input Service Distributor (ISD) under Section 2(61) is revised to facilitate ITC distribution for inter-state supplies ...

Be it noted, the Bench then notes in para 14 that, “Importantly, it must be noted that the case as of now, after the filing of chargesheet, survives only to the extent of allegations under Sections ...

2. That in the facts and circumstances of the case and in law, the Respondent erred in concluding that the income in the form of deposit, lease premium, rent and interest, etc. is liable to tax in the ...

These amendments aim to eliminate ambiguity and ensure uniformity in calculating the limitation period for tax proceedings. Most of the changes will take effect from April 1, 2025, while some ...

Summary: The Union Budget 2025 proposes a rationalized customs tariff structure by removing seven tariff rates, leaving only eight, with minor reductions on select items. To support domestic ...

Budget outlines measures to boost investment and employment, particularly focusing on the International Financial Services Centre (IFSC). Key provisions include extending tax incentives for IFSC units ...

Section 194-I of the Act requires that any person, not being an individual or a Hindu undivided family, who is responsible for paying to a resident any income by way of rent, shall deduct income-tax ...

Section 194H of the Act requires that any person, not being an individual or a Hindu undivided family, who is responsible for paying, to a resident, any income by way of commission (not being ...

Section 194G of the Act requires that any person who is responsible for paying, to any person, who is or has been stocking, distributing, purchasing or selling lottery tickets, any income by way of ...

The Finance Bill 2025 proposes amendments to clarify the taxation of Unit Linked Insurance Policies (ULIPs). Under Section 10(10D) of the Income-tax Act, exemption on life insurance proceeds is ...

The income tax rates for the assessment years (AY) 2025-26 and 2026-27 remain unchanged across categories. Under Section 115BAC, default rates for individuals and Hindu Undivided Families (HUF) ...