Tax Audit Applicability for F&O Traders – AY 2026-27 (FY 2025-26) A futures & options (F&O) trader is required to get a tax audit under Section 44AB of the Income Tax Act. Since F&O trading is generally treated as non-speculative business income, tax audit provisions applicable to business income apply. Case A: F&O Trader Opting …
Prevention of Sexual Harassment at the Workplace: Beyond Compliance Towards a Culture of Dignity and Respect Introduction The workplace has undergone a remarkable transformation over the past few decades. It is no longer merely a place where individuals earn a livelihood; it has evolved into a space where ideas are exchanged, careers are built, and …
Who Needs to Register with FIU-IND? The Financial Intelligence Unit-India (FIU-IND) is the government agency responsible for monitoring and preventing money laundering and terrorist financing activities in India. Following the Ministry of Finance notification issued in March 2023, businesses dealing in Virtual Digital Assets (VDAs) such as cryptocurrencies are treated as “Reporting Entities” under the …
Revision & Rectification Provisions under the Income-tax Act, 2025 vs the Income-tax Act, 1961 Understanding the Key Changes in Revision and Rectification Framework The Income-tax Act, 2025 aims to simplify, consolidate, and modernize India’s direct tax legislation. While the revision and rectification framework has largely been retained from the Income-tax Act, 1961, several provisions have …
DPDP Act, 2023: 7 Major Penalty Areas Every Business Should Know The Digital Personal Data Protection Act, 2023, marks a significant step in India’s data privacy framework. The law governs how organizations collect, process, store, and protect digital personal data and applies to businesses, startups, professionals, e-commerce platforms, and other entities that handle personal information …
Tax Audit Reporting Changes in Form 3CD for FY 2025-26 (AY 2026-27): What Auditors Need to Know The Income Tax Department has introduced significant amendments to Form 3CD applicable for FY 2025-26 (AY 2026-27). These changes impact reporting requirements, audit procedures, documentation, and client data collection processes. Tax auditors must update their audit programs and …
How to Bring Fantasy Worlds to Life Through Video What separates a fantasy world that feels authentic from one that feels like random spectacle? Consistency. A world where magic follows discoverable rules, where geography shapes culture, where technology matches social development, where every element connects to others. That internal logic is what makes fantasy worlds …
Documents Required for Filing ITR for AY 2026-27 While most supporting documents are not required to be uploaded with the Income Tax Return (ITR), taxpayers should keep all relevant records ready for accurate filing and future verification. Category Documents Required Salaried Individuals • Permanent Account Number Card • Aadhaar Card • Form 16 issued by …
Quick Comparison: ITR-3 vs ITR-4 (AY 2026-27) Basis ITR-3 ITR-4 (Sugam) Who Can File? Individuals & HUFs having business or professional income Resident Individuals, Resident HUFs and Resident Firms (other than LLPs) Business Income Allowed Allowed under Presumptive Taxation Scheme Professional Income Allowed Allowed under Section 44ADA F&O Trading Income Applicable Not Applicable Intraday Trading …
Taxation of Exchange Traded Funds (ETFs) in India Particulars Equity ETFs Gold & Silver ETFs Debt ETFs Examples Nifty 50 ETF, Sensex ETF, Bank Nifty ETF, Bharat 22 ETF Nippon Gold ETF, HDFC Gold ETF, SBI Silver ETF Bharat Bond ETF, Government Bond ETF, Corporate Bond ETF Source of Income Dividend & Capital Gains Dividend …