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Income Tax
1961 to 2025 : Tax Transformation
Finance Minister Nirmala Sitharaman tabled the new Income Tax Bill, 2025, in Parliament on February 13, 2025. It aims to overhaul and modernize the existing framework of the 1961 Act by reducing complexity, removing...
Income Tax
Section 80TTB for Senior Citizens in India
For many seniors, handling money in retirement is about smart planning and enjoying their golden years. One of the most beneficial provisions in the Indian Income Tax Act for this demographic is Section 80TTB....
Income Tax
Budget 2025: Key Direct Tax Changes You Need to Know
The Union Budget 2025 has introduced several direct tax changes aimed at reducing the tax burden and easing compliance for individuals and businesses. With higher rebate limits, revised TDS thresholds, and relaxed rules for...
Income Tax
ICAI’s Key Suggestions for the Union Budget 2025
With the Union Budget 2025 set to be presented by Finance Minister Nirmala Sitharaman on February 1, the Institute of Chartered Accountants of India (ICAI) has put forth a set of recommendations aimed at...
Income Tax
Most Common Tax Disputes in Income Tax
Income tax disputes are a recurring challenge for taxpayers and tax authorities worldwide, and 2024 has been no exception. As tax systems evolve and regulations grow complex, disputes arise. They stem from misunderstandings, different...
Income Tax
Form 16: Everything You Need to Know
Form 16 is a term that frequently pops up during the tax season in India, but what is it really, and why is it so important? Whether you’re a salaried employee navigating the world...
GST
GSTN Mandates HSN Code Reporting: Effective February 2025
Starting from the January 2025 tax period, the Goods and Services Tax Network (GSTN) has introduced significant changes to Table 12 of the GSTR-1 and GSTR-1A forms, focusing on the mandatory reporting of Harmonized...
Company Law and IBC
Foreign Exchange Management Act (FEMA) for Foreign Transactions
In a globalized world, businesses, individuals, and governments engage in cross-border transactions. So, we must regulate foreign exchange to ensure stability and legality. The Foreign Exchange Management Act (FEMA), enacted in India in 1999,...
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