Non-Resident Indians may utilise the National Pension System as a long-term retirement vehicle, with its benefits heavily influenced by income sources in India and the chosen tax regime, amidst complex withdrawal rules and cross-border tax implications. Non-Resident Indians can use…
India’s long-standing free digital payment system faces a potential overhaul as the Lok Sabha approves a bill allowing the government to impose charges on UPI transactions, signalling a significant shift in the country’s cashless economy. India’s long-standing free-ride on UPI…
The Chennai bench of the Income Tax Appellate Tribunal has clarified that withdrawals from an individual’s own bank account, when properly documented, cannot be classified as unexplained income under Section 69A, offering relief to taxpayers handling routed or disbursed funds.…
Experts recommend creating a financial plan centred on building an emergency fund and adopting disciplined investments like SIPs to ensure long-term financial stability for young professionals earning their first salary. A first salary can feel like a milestone and, for…
India’s residential property market demonstrates resilience with increased new launches and steady sales, while the Reserve Bank of India’s decision to hold rates aims to support long-term demand amid global uncertainty and inflation pressures. India’s residential property market has continued…
India has simplified its data centre tax regime with new amendments, aiming to attract more foreign cloud and AI infrastructure investments amid expanding domestic market prospects and ongoing infrastructure challenges. India’s bid to become a magnet for cloud and AI…
SEBI has replaced the dividend option label with income distribution cum capital withdrawal (IDCW) to prevent investor misconceptions, highlighting the differing tax effects and long-term growth impacts of payout, reinvestment, transfer, and growth options. IDCW, or income distribution cum capital…
Taxpayers awaiting their income tax refunds can now easily check their refund status online and identify common issues causing delays, according to official guidance and expert advice. If your income tax refund has not arrived after filing an ITR, the…
Experts warn that unsolicited contact about pensions often masks scams and advise savers to verify sources, avoid pressure, and seek independent advice before sharing personal information or making decisions. Unexpected contact about a pension should always be treated with caution,…
AI-enabled accounting technology is transforming routine financial tasks for small and medium-sized enterprises, offering increased efficiency and accuracy while prompting ongoing ethical and regulatory discussions. Artificial intelligence is steadily reshaping accounting, particularly for micro, small and medium-sized enterprises that want…
The Delhi bench of the Income Tax Appellate Tribunal clarifies that appellate enhancement powers are limited to items already examined in the assessment, reinforcing legal boundaries against introducing entirely new income sources, especially in accommodation entry cases. The Delhi bench…
A Mumbai tax tribunal has clarified that penalties under Section 270A of India’s Income-tax Act are not applicable where there is no real tax effect or genuine under-reporting, potentially impacting a broad range of taxpayers including charitable trusts. A Mumbai…
