The appeal was filed by the Revenue in order to challenge the Income Tax Appellate Tribunal’s (“the Tribunal” for short) judgment. The questions presented for... Read More
Income Tax
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Changes in the TDS provision via the Finance bill,2019 passed by the Lok Sabha and Interim Budget, 2019
Sec 194M (new section): TDS on payment surpassing Rs 50 lakhs to either a Contractor or a Professional by Individual/HUF (This is applicable w.e.f. 01/09/2019)... Read More
Sec 194M (new section): TDS on payment surpassing Rs 50 lakhs to either a Contractor or a Professional by Individual/HUF (This is applicable w.e.f. 01/09/2019)... Read More
Non-Resident Indians – Which Income/Assets are Taxed?
The main question that arises for any non-resident Indian is that which income is liable to tax, which assets need to be declared, etc. It... Read More
Declaration of Income Tax Returns: Does an NRI have to declare their foreign bank account information?
When it comes to disclosure of overseas accounts of NRI’s, there is a lot of confusion and chaos pertaining to the disclosure of the overseas... Read More
Section 195 – TDS for Non-Resident Indians
3 min read
Section 195 of the Income Tax Act, 1961, is all about the Tax Deducted at Source (TDS) for Non-Resident Indians. This section basically highlights the... Read More
There is always some confusion when it comes to an NRI and income which is taxable in India. Mentioned below are a few basics on... Read More
Benami Transactions Informants Reward Scheme
5 min read
Under the Scheme, an informant can be provided interim and the final reward only the competent authority. The interim reward will be granted if the informant has provided the specific information pertaining to the Benami property in the format prescribed in Annexure-A and has received an Informant code as well. ... Read More
A Defect in The Notice – Does it invalidate the Penalty Proceedings?
The Income Tax Appellate Tribunal’s (ITAT) Jaipur bench has held that the complete proceeding against the assessee would be nullified in case of a defect... Read More
New NRI’s targeted in the India’s Income Tax Evasion Crackdown
The income tax authorities in India are looking into the ‘residential’ status of many non-resident Indians (NRIs) with an aim to target undisclosed assets overseas.... Read More
Diving Deeper: The Impact of the New Tax Bill on Dairy and Farming Income 
Bombay High Court Upholds Section 271(1)(c) Penalty for Deliberate Non-Disclosure 
Reporting of Foreign Assets by Indian Taxpayers under Section 139(1) of the Income Tax Act 
Major Changes Expected in Direct Tax Code 2025 and why these matter