"There are two sides to every coin" is an analogy that can be applied to almost every area of life. One scenario where this is certainly true is the taxes applied to money earned through gambling.
Section 139(5) of the Income-tax Act, 1961, allows taxpayers to file revised income tax returns if they have made a mistake while filing their ITR.
In a landmark judgment on November 9, 2023, the High Court of Madras delivered a significant ruling in the case of All India Gaming Federation versus the State ...
In this article, let me unravel the complexities surrounding anonymous donations, exploring their definitions, exemptions, and controversies that have arisen over the years.
This article will guide you through essential tax-saving techniques that will help you keep more of your hard-earned money in your pocket.
Not every doctor is corrupt and not every pharmaceutical firm resorts to unethical means to sell their products. However, there is no denying that a large number of doctors and medical companies adopt unfair means. Even the Supreme Court frowned at the expenses incurred on sales promotion of certain medicines
The article enlightens us on how the sparkling provisions of the Companies Act, GST and Income Tax reflect the diverse array of Diwali firecrackers, with each having its distinct influence on taxpayers lives.
There is a substantial number of pending appeals related to cash deposits after demonetization in India. For taxpayers, there are favourable case laws available to support their claims. These cases can be valuable references when dealing with income tax-related issues during demonetization.
Capital gains tax is the tax levied on the profit made by an individual or an entity from the sale of an asset such as shares, property, or other capital assets.
Here, we present five such cases where the judgments favored the taxpayers (assessee).
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