Supreme Court Rules on Share Capital Reduction Under Section 2(47)
Supreme Court Rules on Share Capital Reduction Under Section 2(47) of Income Tax Act Whether reduction in share capital is covered under “sale, exchange or relinquishment of the asset” used in Section 2(47) of the Income Tax Act, 1961. Explore more about Tax… TDS on Benefit in Respect of Business or Profession – Section 194R […]
Union Budget 2025 Highlights
Union Budget 2025 Highlights The Union Budget 2025 is out, and Finance Minister Nirmala Sitharaman has announced some major updates that could impact your daily life, business, and taxes. This year’s budget focuses on boosting agriculture, strengthening infrastructure, and making income tax reforms that could put more money in your pocket.The government is pushing for […]
Taxation of Agricultural Income in India
Taxation of Agricultural Income in India Many people wondered if agricultural income is fully exempt from tax. Well, it is a truth, but not the whole truth. According to section 10(1) of the Income Tax Act of 1961, any income generated from any agricultural activities is exempted from tax by the government. This means if […]
Why you should file your Income Tax Return (ITR)?
Why you should file your Income Tax Return (ITR)? Filing your Income Tax Return (ITR) is more than just a legal obligation; it’s a smart financial practice that comes with several benefits. Whether you’re a salaried employee, a private limited company, a public limited company, or a consultant, submitting your ITR can open up opportunities […]