The Union Budget 2023, expanded applicability of section 56(2)(viib) of the Income-tax Act, 1961 (the ‘Act’), commonly referred to as angel tax provisions, regarding issuance…

The UAE has introduced Corporate Tax (CT Law), which would be effective in the UAE from financial years beginning on or after 1 June 2023.…

The key tax updates and the hits and misses of Union Budget 2023.

Irrespective of whether you have already bought a home or are living on rent but planning to buy a house, there is a good likelihood…

In recent times, the reduction in time limits for filing belated or revised income tax returns provides taxpayers a short timeframe to rectify the inadvertent…

The Finance Act 2021 revamped the reassessment process effective 1 April 2021. In early FY 2021-22 the tax authorities had issued more than 90000 notices…

Tech Mahindra Limited (taxpayer) is an Indian multinational information technology services and consulting company1. Part of the Mahindra Group, the company is headquartered in India.

The provisions to reopen the assessment contained in the Act have undergone a huge change. As per this newly introduced provision, before issuing a notice…

Section 40(a)(ii) of the Income Tax Act, 1961 (‘Act’) provides for disallowance of any rate or tax levied on profits or gains of any business…