Capital Gains & Section 54 of the Income Tax Act Section 54 of the Income Tax Act, 1961 This structured summary reflects key changes in capital gains taxation and the… Read More
What are capital gains on the Sale of Property? Capital gains arise when a property is sold for a profit. These are classified into two categories: Long-term Capital Gains: Applicable… Read More
The Risks of Neglecting Compliance in Financial Transactions. This case highlights how a lack of awareness and negligence in compliance can lead to serious tax troubles. A farmer from Karnataka… Read More
Round Tripping of Funds: A Red Flag for Financial Manipulation Round tripping is a deceptive practice used by entities to artificially inflate their financial statements. This practice is particularly concerning… Read More
The Role of Ring-Fencing in Forensic Audits: Safeguarding Project Finances Ring-fencing has emerged as a critical regulatory practice, separating specific assets, activities, or information within an organization to safeguard against… Read More
An Overview on Kickbacks in Forensic Audits Kickbacks represent a critical area of concern in forensic audits, as they directly impact the financial health, ethical standards, and legal compliance of… Read More
Amendments to arrest & bail procedures under CGST Act The Goods and Services Tax Investigation Wing’s Instruction No. 01/2025- Goods and Services Tax introduces important amendments to arrest and bail procedures under… Read More
55th GST Council meeting issuance of 8 Notifications by CBIC The 55th GST Council meeting and subsequent issuance of eight notifications by the CBIC on January 16, 2025, reflect ongoing… Read More
Harmonized system of nomenclature (HSN) in Goods and Services Tax HSN CODE IS REQUIRED ON ALL B2B INVOICES FOR EVERY TAXPAYER. HSN codes to be declared under the GST in… Read More
India's GST Collections Surge in December 2024 to INR 1.77 Trillion India's GST collections for December 2024 reached a record ₹1.77 trillion, marking an 8% year-over-year increase. This growth reflects… Read More