Supreme Court: Tiger Global Not Eligible for Mauritius Treaty Exemption on Flipkart Share Sale What is background of Tiger Global case on the exemption on Flipkart Share Sale Tiger Global International II Holdings, Tiger Global International III Holdings, and Tiger Global International IV Holdings¹ (collectively, the taxpayer) are private companies limited by shares, incorporated in …
Comparison of the new tax regime vs. the old tax regime for FY 2025-26 Comparison of the new tax regime vs. the old tax regime for FY 2025-26, including income slabs, tax rates, and allowed deductions/exemptions. Income Tax Slab Rates (FY 2025-26) Slabs under Old Tax Regime Up to INR 2,50,000 – Nil INR 2,50,001 – …
Choosing the right tax regime for FY 2025-26: What’s best for middle-class earners? Every new financial year brings one familiar question for salaried individuals: Which tax regime should I chooseold or new? For FY 2025-26, the government continues to offer both systems, but the structure, exemptions, and benefits differ enough to make this a meaningful …
Capital Gain on Sale of Agricultural Land : Section 54B Section 54B offers exemption from capital gains tax when an individual or HUF sells agricultural land and reinvests the proceeds in another agricultural land. This encourages reinvestment in agriculture rather than monetization of farmland. Eligibility Criteria of Sec 54B Who can claim: Only individuals or …
Association of Persons (AOP): Meaning, Formation, Structure & Tax Implications In finance and taxation, understanding the concept of an Association of Persons (AOP) is essential for individuals, professionals, and businesses. The term appears frequently in tax regulations and has significant implications for how joint activities and shared income are taxed. This article explains the meaning, …
New ITR Forms & Rules Under the Income Tax Act, 2025 (Effective April 1, 2026) The Govt of India is preparing to notify the new simplified Income Tax Return forms and rules under the Income Tax Act, 2025 by January 2026. These new forms will come into effect from April 1, 2026, replacing the long-standing …
Mutual Funds companies are Facing Goods and Services Tax Demand on Exit Loads Despite the GST dept issue the clarification in 2018 stipulating that Goods and Services Tax must be levied at 18 percent on exit loads, many Company have not complied with this directive, Central Board of Indirect Taxes and Customs stated in 2018 that …
CBDT Guidance for AO on Verification of Expenses in Entertainment Sector Following the Comptroller and Auditor General Performance Audit Report No. 1 of 2019, CBDT observed inconsistencies in how Assessing Officers handled pre-operative and production-related expenses in the entertainment industry. Similar cases were being assessed differently, leading to a lack of uniformity in taxation. Directions …
Top 10 Financial Transactions That Can Trigger Income Tax Scrutiny : The Income Tax Department keeps a close watch on high-value financial transactions. Many individuals and professionals may not realize that even routine financial activities can raise red flags if not properly reported. Taxpayer must Compliance today prevents scrutiny tomorrow. Stay informed. Stay compliant. Stay …
Overview on Tax Treatment on Gratuity in India What is Gratuity? Gratuity is a lump sum paid by an employer to an employee in recognition of long-term service, governed by the Payment of Gratuity Act, 1972. It becomes payable on retirement, resignation, death, or disablement after at least 5 years of continuous service (not needed …