The count has jumped from 33,896 as of 31 March 2024 to 146,208 as of 30 June this year. But it’s not just the NSE. Tata Capital, the Metropolitan Stock Exchange and the National Commodity and Derivatives Exchange are among the companies that have seen investor appetite for their unlisted shares grow. However, investing in…
The ‘substance over form’ principle in tax law means that what really happens in a transaction matters more than how it looks on paper. It empowers tax authorities to look past legal documents to understand the true purpose and effect of a deal. Tax authorities often invoke this doctrine when it helps them deny benefits,…
8th pay commission news update: The Centre has approved implementation of the 8th Pay Commission, which is set to revise the allowances, pensions, and salaries of present and retired central government employees, in line with inflation. While this was announced by Union minister Ashwini Vaishnaw in January, since then, there is much buzz about what…
Finance Minister Nirmala Sitharaman moved to withdraw the New Income Tax Bill, 2025, on Friday, after a Parliamentary Select Committee led by BJP MP Baijayant Panda suggested host of changes to the legislation. The revised New Income Tax Bill, 2025, will be introduced in the Parliament on August 11, sources said. The House approved the…
ITR Filing 2025: As the ITR 2025 filing season is approaching, many freelancers and consultants are uncertain about how their income is taxed differently from salaried employees. The key differences lie not only in the type of ITR form to be used but also in how income is calculated, the deductions that can be claimed,…
ITR filing: Whether you’re a salaried individual, freelancer, or just entered the job market, filing income tax returns (ITR) for the first time may seem daunting. Hence, to make the filing process smooth and convenient, the Income Tax Department shared a detailed guide on filing ITR for first-time taxpayers. In a post on the social…
8th Pay Commission: With growing anticipation among central government employees and pensioners over the expected revision of salaries and pensions following the implementation of the 8th Pay Commission, the focus is also on the formulation of the Terms of Reference (ToR). Here’s a detailed guide on everything you need to know about ToR — 8th…
The income tax (I-T) department has now enabled ITR-5 for filing returns online, for firms, Limited Liability Partnerships (LLP), Associations of Persons (AOP), and Bodies of Individuals (BOI). In a post on the social media platform X, the income tax department noted, “Kind Attention Taxpayers! Excel Utility of ITR-5 is live now and is available…
ITR Filing: As taxpayers swing into action to file their income tax returns (ITR) ahead of the 15 September deadline, a Reddit post has sparked debate on how income tax is levied on profit earned from the stock market. During ITR filing, a Reddit user, who goes by ‘anoopdreams,’ was stunned when his CA revealed…
The Income Tax Department has warned taxpayers about a rising wave of phishing scams amid an increase in ITR filings by citizens. Scammers are trying to impersonate the I-T Department and promising fake refunds, it warned. The Income Tax Department issued a public alert on X to warn taxpayers about the ongoing income tax scam….
