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GST on Corporate Guarantees Explained: Madras High Court Rules No GST When Full ITC Is Available In a recent ruling with wide implications for businesses, the Madras High Court set…

Mandatory Show-Cause Notice Requirement: When an Income Tax Assessment Is Quashed for Not Issuing It In a significant decision by the Income Tax Appellate Tribunal (ITAT), an income tax assessment…

Income Tax Act 2025 Explained: What the Shift from “Assessment Year” to “Tax Year” Means for You The Indian government has introduced the Income Tax Act, 2025, bringing one of…

MCA Extends Annual Filing Deadline Without Late Fees for FY 2024-25 – Know Details The Ministry of Corporate Affairs (MCA), Government of India, has once again provided major relief to…

ITAT Upholds Tax Addition on Demonetization Cash Deposits: Hasmukh Ramanlal Patel Vs ITO (Ahmedabad) – A Clear Message on Section 69A Compliance In the post-demonetisation era, Indian taxpayers faced intense…

US Government Pension Exempt from Indian Tax: ITAT Delhi Clarifies DTAA Supremacy In a landmark decision that underscores the supremacy of international tax treaties over domestic statutes where beneficial to…

Section 263 Revision Not Justified for Notional Interest: ITAT Rules Income Taxable Only on Maturity In a recent and significant ruling under Section 263 of the Income-tax Act, 1961, the…

Understanding Perquisites & Taxation: Residential Accommodation under the Income Tax Act, 1961 Facts and Issue of the Case Under the Indian Income Tax Act, 1961, an employee’s salary income is…

Section 50C Capital Gains Explained: Impact of Multiple MOUs on Property Sale Taxation – ITAT Ruling Simplified Understanding how capital gains tax is computed on property sales can be confusing…

Urgent ITR Alert: Income Tax Refund on Hold Due to Risk Management Alert – Act Before 31 December 2025 The Income Tax Department has stepped up its compliance drive for…