IntroductionIncome tax is often perceived as a complex and burdensome subject, but in reality, it plays a pivotal role in shaping a nation's economy and an individual’s financial well-being. In India, the income tax system serves not only as a primary source of revenue for...
In today’s marketplace—crowded, fast-paced, and highly competitive—a brand is more than a name or a logo. It is a promise, a reputation, and a distinct identity. At the heart of protecting that identity lies trademark law, a critical branch of intellectual property (IP) that safeguards...
Introduction to Tax AuditA tax audit is a detailed examination of a taxpayer’s financial records to ensure compliance with income tax laws. It is mandatory under Section 44AB of the Income Tax Act for certain businesses and professionals exceeding specified turnover limits.#TaxAudit #Section44AB #IncomeTaxCompliance ...
Choosing the Right Business Entity in India: Sole Proprietorship vs Partnership vs LLP vs Private Limited Company Introduction Starting a business in India involves selecting a suitable legal structure. This choice affects your liability, taxes, compliance burden, and ability to raise funds. Indian law offers several forms...
Tax‐Free Income up to ₹12.75 Lakh! Understanding the New Tax Regime (AY 2026–27) for Salaried Individuals The New Tax Regime under India’s Income Tax Act has been significantly revamped for the Assessment Year (AY) 2026–27. These changes – announced in the Union Budget 2025 – aim to...
ITR Filing Deadlines and Form Updates for AY 2025-26 – Everything You Need to Know With the Assessment Year (AY) 2025-26 underway, taxpayers must be aware of the updated Income Tax Return (ITR) deadlines and form changes introduced this year. Filing your ITR on time not...
Key TDS Provisions and Thresholds – Section 194-IA, 195, and Exemptions To summarize the TDS obligations on property sales, here are the key provisions and thresholds under the Income Tax Act: Section 194-IA – TDS on Purchase of Property from a Resident This section applies when buying immovable...
Tax Treatment by Property Type – Residential vs Commercial vs Agricultural Land The tax on property sales can also differ based on the type of property being sold – mainly regarding available exemptions and whether the asset is even taxable. Here’s a breakdown for residential property,...
Non-Resident (NRI) Sellers – TDS and Capital Gains Implications If the property seller is an NRI (Non-Resident Indian), the tax law requires a higher TDS to ensure capital gains tax is collected from the sale. The process works as follows: TDS on Sale (Section 195): When...
Avoiding GST Notices in 2025: Common Mistakes and Red Flags Introduction: In 2025, India’s Goods and Services Tax (GST) compliance regime has become smarter and more stringent than ever. The Central Board of Indirect Taxes and Customs (CBIC) is now using advanced data analytics and AI-driven tools...