Income Tax

1. IntroductionShare trading losses, if properly managed, can significantly reduce future tax liabilities for assessees engaged in equity, derivatives, or delivery-based transactions. The right to car...

Introduction and Legislative IntentThe Income-Tax (No. 2) Bill, 2025 was formally introduced in the Lok Sabha on August 11, 2025, by the Finance Minister, Smt. Nirmala Sitharaman. The Bill aims to con...

Introduction(i) Overview of Legislative AmendmentsStatutory provisions, especially in tax laws, undergo frequent modifications for various reasons such as addressing loopholes, taxing previously untax...

1. Introduction to Residential Status ComplexitiesThe determination of residential status under the Income Tax Act, 1961 has emerged as a critical area of contention, particularly for Indian entrepren...

1. Introduction to Multi-Tier Distribution FrameworksIn the contemporary global business environment, multinational corporations (MNCs) extensively utilize cross-border operations through affiliated e...

1. Introduction to Permanent Establishment ComplexitiesThe concept of permanent establishment (PE) has become a critical focal point in international taxation, particularly following the recent Suprem...

Introduction to the Overhauled Income Tax LawThe Government of India has ushered in a transformative phase in direct taxation by unveiling the New Income Tax Bill, 2025 on August 11, 2025. This legisl...

OverviewSection 206C of the Income Tax Act governs the collection of Tax Collected at Source (TCS). This write-up focuses on the revised interest implications for late remittance of TCS by assessees,...

OverviewThe frequency of search and seizure operations conducted by the Income Tax Department and the Enforcement Directorate (ED) under the Prevention of Money Laundering Act, 2002 (PMLA), has risen...

Overview of Recent ChangesThe Finance Act, 2024 has introduced several major amendments, one of which is the implementation of Section 194T under the Income Tax Act, 1961. This new section obligates a...

1. Introduction to Acquisition StrategiesIn today’s rapidly evolving and interconnected business environment, mergers and acquisitions (M&A) play a pivotal role in enabling companies to grow, realign...

1. Overview of Faceless AssessmentThe Income Tax Department has implemented a groundbreaking approach to tax scrutiny by introducing the Faceless Assessment system under Section 144B of the Income Tax...

1. Introduction Clause 30B of Form 3CD requires the tax auditor to report whether the assessee has incurred expenditure during the previous year by way of interest or expenditure of a similar nature e...

Clause 19 of Form 3CD requires the tax auditor to report admissible deductions under specified provisions of the Income-tax Act, 1961—such as Sections 32AD, 33AB, 33ABA, 35 series (e.g., 35(1)(i) to 3...

Introduction: The Paradigm Shift in Indian Income Tax LegislationThe Indian government has ushered in a transformative chapter in tax law with the introduction of the Income Tax Bill, 2025 on 11th Aug...

(New Income-tax Bill)

The government today tabled the Taxation Laws Amendment Bill, 2025 in the Lok Sabha, introducing a range of targeted changes to the Income-tax Act, 1961. The proposals reflect a mix of fresh measures...

Overview of ITR-5 for AY 2025-26The Central Board of Direct Taxes (CBDT) has introduced substantial amendments to the ITR-5 form for Assessment Year 2025-26 to align with the legislative changes of th...

Form 3CD is a cornerstone in the Indian tax audit process, guiding Chartered Accountants and trainees through a detailed reporting structure as mandated by Section 44AB of the Income-tax Act, 1961. Th...