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Analysis of Budget Proposal 2025 – Non Resident Taxation
By CA Paresh P. Shah: Introduction This article discusses the amendments proposed by Finance Bill, 2025 of the Income Tax Act, 1961 (the ‘Act’ or ‘ITA’) pertaining to the Taxation of Non Residents. The same are as follows: i. Section 2 – Definitions, Clause 3 of the Finance Bill, 2025 ii. Section 9 – Income Deemed to accrue or arise… Read More ...
Removal of time limit to implement ‘Faceless Appeal Scheme’ from the functioning of the Hon’ble Income Tax Appellate Tribunal
By Rahul Hakani, Advocate & CA Harsh Bafna: Section 253(8) of the Income-tax Act, 1961 (herein after referred to as the ‘Act’) dealing with ‘Appeals to the Appellate Tribunal and section 255(7) of the Act dealing with Procedure of Appellate Tribunal (herein after referred to as the ‘ITAT’) inter-alia, empowers the Central Government to issue directions for framing a faceless scheme for conducting… Read More ...
Budget 2025 : Changes proposed for Charitable Trust
By CA Ashok Mehta: Introduction A ray of hope in the 2025 budget for charitable trusts or societies or companies steams from the fact that the finance minister has recognized that there is a high compliance burden for smaller trusts. The recognition of such a difficulty is a battle half won, for all the associations and trusts who were… Read More ...
Finance Bill 2025: An Overview
By Dr. K. Shivaram, Senior Advocate & Shashi Bekal, Advocate: Abstract On February 01, 2025, the Hon’ble Union Finance Minister placed the Budget before the Parliament. The Finance Bill has proposed several amendments for Direct and Indirect taxes. This article is aimed at analysing some of the important proposed amendments to the Income-tax Act, 1961 (Act) Read More ...
Appeal to the Income Tax Appellate Tribunal – Territorial Jurisdiction – Filing of an appeal.
By Aayushi Abhay Shivalkar (Law Student): The concept of Jurisdiction is fundamental in any judicial proceeding. It is the authority that a court of law has to decide matters or to take cognizance of matters litigated before it. It indicates the legal capacity of a court of law to adjudicate matters before them. This authority of the courts is subject to… Read More ...
Transactional net margin method- bridging theory and practice in transfer pricing
By Disha Deopura: This paper critically examines the complexities and limitations of the arm's length principle within transfer pricing frameworks, particularly focusing on its susceptibility to manipulation by multinational enterprises (MNEs) for tax advantage. By analyzing the application of the transactional net margin method and exploring the judicial reasoning in the Kellogg India case, the research highlights how… Read More ...
FOREIGN REMITTANCES & TCS PROVISIONS UNDER UNION BUDGET 2025
By FCS DEEPAK P. SINGH [Bsc.FCS, LLB, FIII, CiAFP]: Dear Friends, Hon’ble Finance Minister has presented excellent and people-oriented Budget-2025 on 1st February 2025. There are many expectations of the people from this Budget and PM as well as FM has assured earlier that they are going to gift various benefits to the people and the industry in this Budget-2025. The FM has herd… Read More ...
BUDGET 2025 ANALYSIS – DIRECT TAXES
By FCS DEEPAK P. SINGH [Bsc.FCS, LLB, FIII, CiAFP]: Dear Friends, Hon’ble Finance Minister, Mrs. Sitaraman has presented 8th Budget in a row and has become second Finance Minister after Shree Moraraji Desai , who had presented 10th Union Budgets on different time frames. Mr Desai had presented a total of 6 budgets during his tenure as finance minister from 1959 to 1964, and… Read More ...
Finance Bill Analysis 2025-By Vispi T. Patel, Chartered Accountant
By Vispi T. Patel Chartered Accountant: The Indian Budget for the fiscal year 2025-26 has been a subject of great anticipation and scrutiny, especially as the GDP is expected to grow by 6.4% as against the earlier estimates of around 7%. The budget was expected to lay down the path for increasing the GDP and increase employment. Guided by the objectives… Read More ...
BHATIA PROPCON. A JURISPRUDENTIAL FAILURE?
By ANADI VARMA: The article is a modest attempt to analyse the decision of Hon'ble Delhi HC on s 148 wherein, inspite of wrong section being invoked, the notice and order have been upheld under cl b and d of s 148A respectively.In the humble opinion of the author the decision fails the principles of natural justice as… Read More ...