The Principal Purpose Test (PPT) is a provision under the Multilateral Instrument (MLI) to prevent treaty abuse and aggressive tax planning practices. It aims to ensure that treaty benefits are granted only when the principal purpose of a transaction or arrangement is genuine and not merely to obtain treaty benefits.
The Book Identification Number, also called BIN, is a unique reference number generated by the Pay & Accounts Office, District Treasury Office, or Cheque Drawing & Disbursing Officer when filing Form 24G, which is used by government deductors for depositing TDS/TCS to track Tax Deducted at Source and Tax Collected at Source payments made by government offices without the challans.
A major change introduced in the Finance Bill 2025 is restructuring the New Income Tax regime to provide more take-home to salaried employees and encourage them to spend or invest further
An Overview of Real Estate (Regulation and Development) Act (RERA), 2016IntroductionIn today’s world, every person purchase immovable property from Real
This budget brings significant changes aimed at reducing the compliance burden and providing tax relief to individual taxpayers
he budget introduces significant reforms, including the removal of income tax liability (under the new regime) for individuals earning up to INR 1.2 million annually, excluding special income.
A partnership firm is a business structure created by two or more individuals who mutually agree to share the profits and losses of a business operated by all or any of them on behalf of the others.
In the realm of enterprises, some assets were visible, like factories, machines, or inventory.
The Reserve Bank of India (RBI), in its Master Directions (Direction) for NBFCs, has outlined the requirement of obtaining prior written permission of RBI for a change in management of the NBFC which would result in a change in more than 30 percent of the directors, excluding independent directors (IDs).
The landscape of professional services is undergoing a profound transformation, driven by the rapid advancement of Artificial Intelligence (AI).
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