Popular Articles

Case Study: Short Term Leases

FCS Deepak Pratap Singh 26 August 2024 at 08:36

Entity X (lessee) enters into a lease with Entity Y (lessor) for two assets namely, Asset A and Asset B, with 10 months non-cancellable term with an option to extend the lease for 5 months. The lease does not have a purchase option.

Which Tax Regime Is Better for the Middle Class in FY 2025-26: Old or New?

Pranab Banerjee 27 October 2025 at 06:34

Budget 2025 has reignited the Old vs New Tax Regime debate for India’s middle class. With income up to Rs 12.75 lakh now tax-free under the New Regime, should you switch or stay with the Old one?

Maximize Your Property Profits: A Guide to Section 54EC Bonds

CA.Sangam Aggarwal 12 December 2025 at 06:48

Learn how Section 54EC Bonds (now Section 85 under the Income Tax Act, 2025) help you legally save tax on long-term capital gains from land or buildings.

NRI Gift from Brother-in-law Held Exempt under Section 56 - ITAT Kolkata Allows Assessee's Appeal

CA Jaydeep Babubhai Vadher 13 December 2025 at 06:52

The Kolkata ITAT has ruled that a gift of Rs 80 lakh received from a brother-in-law qualifies as exempt under section 56(2)(vii) of the Income tax Act. The Tribunal held that gifts from specified relatives cannot be taxed merely due to doubts over the donor's source of funds, reaffirming that such enquiries must be made in the donor's hands, not the recipient's.

Income Tax Updates in Union Budget 2026-27: What the New Proposals Mean for Taxpayers

gstregistration.co 05 February 2026 at 07:23

Income Tax Updates in Union Budget 2026–27: What the New Proposals Mean for TaxpayersThe Union Budget 2026–27 introduces wide-ranging reforms in Ind

Form 16 is Dead. Meet Form 130: India's Biggest Tax Shake-Up in 64 Years

venkanna setty 20 February 2026 at 06:58

An experienced practitioner shares insights on the new Income-tax Act, 2025, redesigned forms, and what taxpayers and professionals should expect during the April 2026 transition.

Competition Act 2002 and Related Proposed Amendments at a Glance

CA Gyati Gupta 03 June 2024 at 08:43

The Competition Act, 2002, represents a pivotal piece of legislation designed to foster and maintain competition in India's markets. It aims to protect consumer interests, ensure freedom of trade, and create a level playing field for all market participants.

The Invisible Treasures (IND AS 38)

CA Rakesh Ishi 06 February 2025 at 10:34

In the realm of enterprises, some assets were visible, like factories, machines, or inventory.

How to Correct Mistakes in Your LLP Annual Return Filing?

Ishita Ramani 30 April 2025 at 08:34

In this article, we shall help you understand how to correct errors for your LLP Annual Return Filing.

Rule 164: Procedure and Conditions for Closing Proceedings under Section 128A

Rajagopal K 01 July 2025 at 08:42

Effective from 1st November 2024, taxpayers can now apply online for waiver of interest or penalty under GST using new forms SPL-01 and SPL-02, as notified by CBIC. Learn the process, timelines, conditions, and consequences of rejection or approval under Rule 128A.