The Income Tax Appellate Tribunal nullified a ₹2 crore tax demand linked to a Delhi property deal, emphasising the need for properly authenticated electronic evidence and clear chain of custody in high-value transactions. The Income Tax Appellate Tribunal has set…
Salaried workers with side businesses must report income distinctly, with different tax rules applying to profit and salary, impacting filings and GST obligations. Salaried workers who also earn from a side venture need to treat the two income streams separately…
With rising comparisons highlighting the superior long-term potential of systematic investment plans over recurring deposits, Indian savers must reconsider their traditional safety net for wealth growth and preservation. For millions of salaried Indians, the monthly decision comes down to two…
India’s securities regulator unveils a new draft framework to curb deceptive promotions on online bond platforms, aiming for clearer investor disclosures and banning misleading phrases like ‘high returns’. India’s markets regulator has proposed a tougher advertising code for online bond…
New regulations in India require medical professionals with higher income levels to maintain detailed daily records under Form 25, aiming to curb revenue leakage and bolster income transparency while affecting a select group of practitioners. Medical practitioners in India will…
Rules change sharply for Indian savers who give up Indian citizenship, with accounts deemed closed retroactively and interest rates falling from PPF to Post Office Savings Account levels, impacting long-term investors’ benefits. An Indian saver who later becomes a non-resident…
The Lucknow bench of the Income Tax Appellate Tribunal has emphasised procedural compliance, ruling that a capital-gains addition under section 50C cannot be upheld where the department failed to properly refer valuation disputes to the Departmental Valuation Officer within the…
The Employees’ Provident Fund Organisation (EPFO) has initiated a nationwide campaign till October 31, encouraging employers to enrol eligible workers outside the formal social security system, offering a one-time opportunity to regularise past omissions with minimal penalties. The Employees’ Provident…
A Delhi Income Tax Appellate Tribunal has overturned a ₹3.74 lakh penalty for late filing, recognising that failing to file on time does not amount to under-reporting when the income was eventually declared and correctly assessed. A Delhi tribunal has…
India’s payments authorities are exploring implementing safeguards against passing merchant discount rate charges to consumers in UPI transactions, following a precedent set by debit card rules, though no final decision has been made amid ongoing debates and policy delays. India’s…
India’s insurance regulator, IRDAI, has issued formal warnings and a six-month ban on new office openings to Edelweiss Life Insurance and Pramerica Life for exceeding expense management limits under its 2024 rules, amid industry-wide expense compliance challenges. India’s insurance regulator…
India’s GST refund system offers avenues for businesses to reclaim excess tax, but navigating the technical rules and deadlines remains crucial for a smooth claim process amid recent guidance and reforms. India’s goods and services tax regime gives businesses a…
