By Dr. K. Shivaram, Senior Advocate & Mr. Shashi Bekal, Advocate: On July 23, 2024, 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 ...

By CA Anilkumar Shah: The exemption granted under RFCTLRR Act encompasses the exemption under the Income Tax Act, 1961 and Circular 36 of 2016 has recognised this. However, there is no provision under the Income Tax Act, 1961 to provide for this exemption. This creates a typical issue under the Act as well as under the ITR utilities. The… Read More ...

By CA Anilkumar Shah: The ITR7 validation rules pose many issues in cross tallying the Corpus/Own Funds, Investment u/s 11(5) and reconciliation of them. The present article gives a how to do it solution in a very crisp and precise manner. This also includes the columns under Form 10B which are linked to ITR7. Read More ...

By FCS Deepak P. SIngh[ B.Sc., LLB, FCS, FIII, CIAFP]: Dear Friends, As you are aware that provisions of Section 50C are applicable for calculation of capital gain on transferor of immovable property such as land or building or both. SECTION 50C(1) provides that where the consideration received or accruing as a result of the transfer by an assessee of a capital asset, being land… Read More ...

By FCS Deepak P. SIngh[ B.Sc., LLB, FCS, FIII, CIAFP]: Dear Friends, As you are aware that an insurance company insures various types of motor vehicles and indemnify financial losses in case of happening of any event as may be specified. There are various types of products related to motor vehicles by various insurance companies in the market. These insurance companies generally pay repair charges… Read More ...

By FCS Deepak P. SIngh[ B.Sc., LLB, FCS, FIII, CIAFP]: Dear Friends As you are aware that Indian Insurance Market is the 10th largest in the world and is poised to become the 6th largest by 2032, ahead of Germany, Canada, Italy, and South Korea. The insurance regulator, IRDAI, has taken up the mission of universal insurance, which is expected to lead to a significant… Read More ...

By FCS Deepak P. SIngh[ B.Sc., LLB, FCS, FIII, CIAFP]: BUDGET 2024 & CHANGES FOR LLP AND PARTNERSHIP FIRMS Dear Friends, The BUDGET -2024 has brought various changes in Direct and Indirect Taxation in India. The Government has changes various provisions detrimental to the ease of doing business in India. The Government has provided benefits to all sectors through Budget-2024. The aim of government is… Read More ...

By FCS Deepak P. Singh [B. Sc.,LLB,FCS,FIII,CAIFP] : Dear Friends, The Government has notified through Notification Ref. No.: CG-DL-E-12082023-248047 dated 11th August 2023, the provisions of Jan Vishwas (Amendment in Provisions) Act, 2023. Through the enforcement of certain provisions of the Schedule to the Jan Vishwas (Amendment of Provisions) Act, 2023, various provisions in different Intellectual Property Rights legislations have been amended. The… Read More ...

By Neelam Jadhav, Advocate: 50 Important Judgements of Honourable Shri G.S. Pannu, Vice-President, Income-tax Appellate Tribunal, New Delhi Read More ...

By ANADI VARMA: The article is a modest academic effort to try and unravel the so called angel tax provision and take a historical perspective.I have tried to argue the contra side as I firmly believe that anti abuse provisions cannot be excepted save on grounds of legal perversity. Read More ...