These articles are uploaded by our esteemed readers. If you would like to publish an article on any legal topic, please use this form to upload it
Amendments to Chapter XII-G – Tonnage Tax Scheme as proposed by Finance Bill, 2025
By Ajay R Singh and Ahmad Faraz Jahangir, Advocates: One of the significant policy measures introduced to boost the Indian shipping industry was the introduction of Tonnage Tax Scheme under Chapter XII-G of the Income-tax Act, 1961 (the “Act”). The Tonnage Tax Scheme offers an alternative method of taxation for qualifying shipping companies, shifting from the conventional method of computation of income to a… Read More ...
Carry forward of losses on amalgamation
By G. Bhaskar, Advocate: Existing Position: ⮚ Sections 72A & 72AA provide for carry forward and set off of accumulated loss and unabsorbed depreciation allowance in the case of amalgamation or demerger and amalgamation in certain cases respectively. ⮚ As per the existing position, accumulated loss of the amalgamating company shall be deemed to be the loss of the… Read More ...
I.T.BILL 2025 AND PRIVACY INVASION
By Anadi Varma : The article decodes the provisions existing and proposed amongst riding concerns of invasion of privacy under proposed clause 247 of the new income tax bill in public domain and subject to concerned netizens and fora making representations about the same.Views expressed are personal. Read More ...
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 ...