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Comparison of Income Tax Slabs: Evaluating the Old and New Regimes for FY 2024-25Summary: The income tax framework in India presents two distinct options for assessees: the traditional regime, charact...

IntroductionEngaging in the investment of stocks and mutual funds is a popular approach to increasing wealth, yet it comes with essential tax responsibilities. Recognizing the tax implications associa...

1. IntroductionIndia's taxation framework witnessed a paradigm shift with the introduction of the Goods and Services Tax (GST) on July 1, 2017. This system has been designed to streamline the tax proc...

Amendments to the Income-tax Act, 1961The Finance Act, 2025, presents substantial revisions to the Income-tax Act of 1961. A primary alteration includes expanding the definition of "capital asset" to...

OverviewIndividuals and Hindu Undivided Families (HUFs) in India, who are not engaged in business or professional services, must be aware of certain tax obligations when leasing properties. As per Sec...

The Central Board of Direct Taxes (CBDT) through Income Tax Notification No. 23/2025, dated 28th March 2025, has revised Form 3CD according to the Income-tax Rules, 1962. These modifications are appli...

The enactment of Section 194Q in the Income Tax Act signifies a significant change in the realm of tax compliance, primarily affecting substantial goods transactions. Although the provision intends to...

Succession planning is an essential process in the business world, particularly for those who have established family-owned businesses and first-generation entrepreneurs. The question of how to pass t...

1. OverviewThe regulatory framework for the incorporation, management, and dissolution of companies in India is governed by the Companies Act, 2013. Among its key provisions, Section 252 plays an esse...

Multi-Factor Authentication (MFA) for All AssesseesFrom April 1, 2025, all GST assessees will need to implement Multi-Factor Authentication (MFA) for accessing GST portals, as authorized by Section 14...

1. Changes to Demat Compliance Date for Non-Small Private Limited CompaniesSummary: As per Ministry of Corporate Affairs (MCA) notification dated February 12, 2025, the deadline for mandatory demateri...

1. Enhanced Criteria for SME IPOs Under ICDR(i) Revised Promoter Eligibility:(a) Promoter Qualifications: SMEs must ensure their promoters and promoter groups, including any selling shareholders, fulf...

Overview of the Case A non-profit organization, M/s. Urban Solutions for Water and Sanitation in India, failed to comply with the Companies Act 2013, section 149(3) requirement to appoint a resident d...

Introduction:Legal Framework:As defined under Section 196(4) of the Companies Act, 2013 (henceforth referred to as 'the Act'), the appointment of a managing director, whole-time director, or manager (...

Introduction of New US Tariff StrategyUnder President Donald Trump's administration, the United States has unveiled a novel tariff regime named "Liberation Day" tariffs. This strategy indicates a majo...

1. IntroductionThe Finance Act, 2024, ushered in a pivotal change for partnership firms and LLPs in India by implementing Section 194T of the Income Tax Act, 1961. Effective from April 1, 2025, this s...

Eligibility and Applicability(i) Section 44AD of the Income Tax Act, 1961 offers a streamlined approach to calculate business income, excluding the transportation of goods using vehicles. This provisi...

Greater Relief for the Middle-Class: Increased Income, No TaxA standout proposal allows assessees earning up to ₹12 lakh annually to be exempt from tax under the revamped regime.(i) Tax Exemption Thre...

Overview: In the context of the new tax system effective for the Financial Year 2024-25, resident individuals with a net annual income up to ₹7,00,000 can claim a rebate under Section 87A of the Incom...

Default Option - New Tax RegimeStarting from the Financial Year 2025–26, the new tax regime is established as the default choice. Although assessees can still select the old regime, the government has...