Income Tax Articles

Capital Gain Tax On Sale Of Shares

Sparsh Wadhwa 06 November 2023 at 13:58

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.

Judgments in Favour of Assessee: Legal Victories in Taxation - Part 1

CA Rakesh Ishi 02 November 2023 at 13:00

Here, we present five such cases where the judgments favored the taxpayers (assessee).

Tax Planning vide colourable device u/s 45(3) not allowed?

Vivek Jalan 01 November 2023 at 13:21

Is tax planning an offence or not? From the Apex Court's decision in the case of Union of India vs. Azadi Bachao Andolan [2003] 263 ITR 706 (SC), it is transpired that once the transaction is genuine, merely because it was entered into with a motive to plan tax, it would not become a colourable device, nor does it earn any disqualification.

Safeguarding Secrets: The Vital Role of Privacy and Confidentiality in Tax Professionalism

Usama Ansari 31 October 2023 at 08:59

In the complex world of taxation, where sensitive financial information is handled on a daily basis, maintaining the privacy and confidentiality of clients is of paramount importance. Tax professionals are entrusted with a wealth of personal and financial data, and ensuring the security of this information is not just a legal requirement but a fundamental ethical obligation.

Cleaning of Books of Accounts and their Worship on the eve of Diwali!

CA Umesh Sharma 30 October 2023 at 14:22

The article will guide us on how to handle old financial records under the various Acts. This will help businesses declutter.

Relief u/s 90 and Form 67 in Indian Income Tax

CA Brijmohan Lavaniya 30 October 2023 at 08:55

In this article, we will explore the concept of relief under Section 90, the purpose of Form 67, and whether it can be filed belatedly.

Difference Between PAN Card and TAN Number

Ishita Ramani 28 October 2023 at 09:09

In this article, we will learn the difference between a PAN Card and a TAN Number in India.

Detailed Analysis Of Agricultural Income

Geetanjali Pandey 27 October 2023 at 14:07

This article is aimed at enlightening the exemption and allowance provided by the Income tax Act in respect of any 'agricultural income' earned by the a..

How to Spread Awareness about Tax Compliance: A Guide for Businesses and Individuals

Usama Ansari 27 October 2023 at 08:59

In this article, we'll explore effective strategies to inform and engage both the general public and tax professionals on the intricacies of tax compliance. So, let's embark on this journey of understanding and awareness.

The Impact of Tax Reforms on Individuals and Businesses for the AY 2024-25

Pranab Banerjee 26 October 2023 at 12:26

Tax reforms play a pivotal role in shaping the economic landscape of a nation. In this article, we will delve into the significant impact of tax reforms on both individuals and businesses, exploring the benefits, challenges, and real-world examples of their influence.