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Taxation of Agricultural Income under Indian Law
By Kamaljot Kaur: This article explores the concept and tax treatment of agricultural income under the Income Tax Act, 1961. While agricultural income in India is exempt from central income tax, it is subject to state government taxation. However, it is indirectly considered for tax rate calculation when non-agricultural income exceeds the basic exemption limit. Section 2(1A) defines… Read More ...
When the Portal Goes Beyond the Notified Form – The Curious Case of Form No. 35
By CA Milind Wadhwani: Recently, there has been considerable discussion within tax professional circles about significant changes observed while filing Form No. 35—the prescribed form for appeals before the Commissioner of Income-tax (Appeals) [CIT(A)]. In the author’s view, the additional details currently being sought through the e-Filing portal cannot be legally mandated unless and until a revised Form No.… Read More ...
Can a private trust claim the principle of mutuality for tax purposes
By CA Vijayakumar Shetty: Can a private trust claim the principle of mutuality for tax purposes Read More ...
Black Money in Balance Sheets
By CA Sanjeev Goyal: Black money has always been a major issue in India’s economy. One of the common ways to convert black money into white is through fake deposits in books of accounts. This practice allows people to hide their unaccounted money in a way that looks legal, but avoids paying taxes. In this article, we’ll discuss how… Read More ...
Taxability in the context of Agriculture and Related Activities
By CA Sanjeev Goyal: Agricultural income is exempt from Income Tax and is not included in total income. The exemption clause is mentioned under Section 10(1) of the Income Tax Act, 1961. However, it is important to note that income from allied agricultural activities like poultry farming, wool rearing, etc. are not considered as agricultural income. Here in this… Read More ...
IS IT THE END OF JAO VS FAO CONTROVERSY?
By SARTHAK JAIN ADVOCATE: The dismissal of the SLP in ADIT v. Deepanjan Roy by the hon'ble Supreme Court does not resolve the larger legal conundrum surrounding the applicability and effect of Section 151A of the Income-tax Act. While the Supreme Court Order affirms the Telangana High Court’s ruling for the parties concerned, it does not establish a binding… Read More ...
Penny Stocks Manipulation and LTCG Fraud in India
By CA Sanjeev Goyal: This article explains how some people are using penny stocks—very cheap and low-volume shares—to cheat the tax system. They buy these shares at a low price, then work with others to artificially increase the value. Later, they sell the shares at a high price and show this as a legal profit to claim tax benefits… Read More ...
Income-Tax Appellate Tribunal – Expectations from the Bar, Bench, Central Board of Direct Taxes, Ministry of Law and Justice, Ministry of Finance, Higher Judiciary and Legislature.
By Dr. K. Shivaram, Senior Advocate : Income-tax Appellate Tribunal - Expectations from the Bar, Bench, Central Board of Direct Taxes, Ministry of Law and Justice, Ministry of Finance, higher judiciary and Legislature. Read More ...
India’s e-Zero FIR Reform: A Digital Leap Toward Accessible Justice
By Rasveen Kaur Kapoor: The piece discusses the recent launch of the e-Zero FIR initiative in India and its implications for digitised access to justice, especially in the realm of cybercrime. I believe this development is of significant interest to the legal tech community, both in its legal foundation and its technological execution. Read More ...
Income -Tax Bill, 2025 : An Insight into the Income -Tax Bill, 2025. Date 18-4-2025 (Friday) – Advocate Ajay R. Singh, Mumbai.
By Summary of the speech prepared by CA. Rajesh Mehta, former Secretary General AIFTP and CA. Apurva Mehta from Online lecture of Respected Mr. Ajay R. Singh, Advocate, Mumbai.: Summary of the speech prepared by CA. Rajesh Mehta, former Secretary General AIFTP and CA. Apurva Mehta from Online lecture of Respected Mr. Ajay R. Singh, Advocate, Mumbai. Mr. Samir Jani National President of the All India Federation of Tax Practitioners (AIFTP), welcomed Advocate Mr. Ajay R. Singh and all participants on zoom and YouTube.… Read More ...