Category: Income Tax
New Income Tax Law–Courtesy Taxscan
Clipped from: https://www.taxscan.in/income-tax-bill-2025-who-is-an-indian-resident-now/489146/ The Income Tax Bill 2025 introduces huge amendments to the definition of “resident in India,” affecting individuals, Hindu Undivided Families (HUFs), firms, and
*Delhi HC quashes NFRA’s 11 show-cause notices against CAs, audit firms – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/delhi-hc-quashes-nfras-11-show-cause-notices-against-cas-audit-firms/article69199642.ece In a 476-page order disposing of a batch of writ petitions, the Bench of Justice Yashwant Varma and Justice Dharmesh Sharma held that
*******No tax on income up to Rs 12 lakh, but it’s a rebate, not an exemption | Personal Finance – Business Standard
Clipped from: https://www.business-standard.com/finance/personal-finance/no-tax-on-income-up-to-rs-12-lakh-but-it-s-a-rebate-not-an-exemption-125020600916_1.html A rebate applies after tax is calculated, reducing the final amount payable, much like a discount Listen to This Article Budget 2025 has
*******Gift Tax : A Comprehensive Case Analysis of Gift Tax
Clipped from: https://www.taxscan.in/a-comprehensive-case-analysis-of-gift-tax/477302/?utm_source=signinbutton&utm_medium=txn&utm_campaign=checkoutsigninbtn Gift transactions in India are subject to income tax. Certain gifts received in India are subject to taxation, despite the fact that there
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